Products and processes to facilitate financing in a video game

ABSTRACT

According to an embodiment, players can obtain funding to assist them in developing and creating virtual assets and game environments. In return the player can provide a benefit to the funding source. Funding sources include taxes, fees, licenses, bond issuance, loans, investors, commercial paper, convertible debt, bills, notes, debt issuance, promissory notes, venture capital, the issuance of private shares, transforming the game environment into a public company through an initial public offering, or through a follow on offering such as the issuance of common stock, preferred stock, and treasury stock.

This application is a continuation-in part of each of the following U.S.patent applications, and each of the following patent applications isincorporated by reference herein as part of the present disclosure:

U.S. patent application Ser. No. 12/693,431, filed Jan. 25, 2010,entitled “PRODUCTS AND PROCESSES FOR PROVIDING A VIDEO GAMEINCORPORATING VENTURE CAPITAL FUNDING”, which was a continuation in partof U.S. patent application Ser. No. 11/279,991, filed Apr. 17, 2006,entitled “Securing Virtual Contracts with Credit”;

U.S. patent application Ser. No. 11/693,530, filed Mar. 29, 2007,entitled “Bankruptcy in a Virtual Environment”;

U.S. patent application Ser. No. 11/611,050, filed Dec. 14, 2006,entitled “Online Game Environment that Facilitates SponsorshipContracts”;

U.S. patent application Ser. No. 11/693,549, filed Mar. 29, 2007,entitled “Collections in a Virtual Environment”;

U.S. patent application Ser. No. 12/782,298, filed May 17, 2010,entitled “SOFTWARE-BASED SYSTEM THAT MANAGES INTERACTIONS AMONG VIDEOGAME CHARACTERS”, which was a continuation in part of U.S. patentapplication Ser. No. 11/355,232, entitled “Online Game Environment thatFacilitates Binding Contracts Between Player Characters”, filed Feb. 14,2006;

U.S. patent application Ser. No. 12/796,289, filed Jun. 8, 2010,entitled “VIDEO GAME CAPABLE OF PROVIDING OFFERS TO PLAYERS”;

BRIEF DESCRIPTION OF THE DRAWINGS

FIG. 1 illustrates a network according to an embodiment.

FIG. 2 illustrates a system 100 according to an embodiment.

FIG. 3 illustrates a system 200 according to an embodiment.

FIG. 4 illustrates a system 300 according to an embodiment.

FIG. 5 illustrates a system 400 according to an embodiment.

FIG. 6 illustrates an embodiment of a method according to an embodiment.

FIG. 7 illustrates a system 500 according to an embodiment.

DETAILED DESCRIPTION

The following sections I-X provide a guide to interpreting the presentapplication.

I. Terms

The term “product” means a machine, manufacture and/or composition ofmatter, unless expressly specified otherwise.

The term “process” means a process, algorithm, method or the like,unless expressly specified otherwise.

Each process (whether called a method, algorithm or otherwise)inherently includes one or more steps, and therefore all references to a“step” or “steps” of a process have an inherent antecedent basis in themere description of a process, or in the mere recitation of the term‘process’ or a like term. Accordingly, any reference in a claim to a‘step’ or ‘steps’ of a process has sufficient antecedent basis.

The term “invention” and the like mean “the one or more inventionsdisclosed in this application”, unless expressly specified otherwise.

The terms “an embodiment”, “embodiment”, “embodiments”, “theembodiment”, “the embodiments”, “one or more embodiments”, “someembodiments”, “certain embodiments”, “one embodiment”, “anotherembodiment” and the like mean “one or more (but not all) embodiments ofthe invention”, unless expressly specified otherwise. Two or moredescribed embodiments may or may not be mutually exclusive. The merefact that two embodiments are described, or that two embodiments aredescribed in proximity to each other or in conjunction with each other,does not imply that the two embodiments are mutually exclusive. Adescribed embodiment may or may not be strictly narrower than andencompassed by another described embodiment. The mere fact that twoembodiments are described, or that two embodiments are described inproximity to each other or in conjunction with each other, does notimply that one of the embodiments is strictly narrower than andencompassed by the other embodiment.

The term “variation” of an invention means an embodiment of theinvention, unless expressly specified otherwise.

A reference to “another embodiment” in describing an embodiment does notimply that the referenced embodiment is mutually exclusive with anotherembodiment (e.g., an embodiment described before the referencedembodiment), unless expressly specified otherwise. Similarly, the merefact that two (or more) embodiments are referenced does not imply thatthose embodiments are mutually exclusive.

One embodiment of the invention may cover or embrace more than one otherembodiment of the invention. For example, a first embodiment comprisingelements a, b, and c may cover a second embodiment that compriseselements a, b, c, and d as well as a third embodiment covering elementsa, b, c, and e. Similarly, each of the first, second, and thirdembodiments would cover a fourth embodiment comprising elements a, b, c,d, and e.

The terms “including”, “comprising” and variations thereof mean“including but not necessarily limited to”, unless expressly specifiedotherwise. Thus, for example, the sentence “the machine includes a redwidget and a blue widget” means the machine includes the red widget andthe blue widget, but may possibly include one or more other items aswell as another example, the sentence “Examples of machines include acomputer and a motor” means that one example of a machine is a computer,another example of a machine is a motor, and there may be other examples(e.g., things that are neither computers nor motors may nevertheless bea machine)

The term “consisting of” and variations thereof mean “including and alsolimited to”, unless expressly specified otherwise. Thus, for example,the sentence “the machine consists of a red widget and a blue widget”means the machine includes the red widget and the blue widget, but doesnot include anything else.

The term “compose” and variations thereof mean “to make up theconstituent parts of, component of or member of”, unless expresslyspecified otherwise. Thus, for example, the sentence “the red widget andthe blue widget compose a machine” means the machine includes the redwidget and the blue widget.

The term “exclusively compose” and variations thereof mean “to make upexclusively the constituent parts of, to be the only components of, orto be the only members of”, unless expressly specified otherwise. Thus,for example, the sentence “the red widget and the blue widgetexclusively compose a machine” means the machine consists of the redwidget and the blue widget (i.e. and nothing else).

The indefinite articles “a” and “an” and the definite article “the”refer to “one or more” of the noun modified by that article, unlessexpressly specified otherwise. Thus, for example, the phrase “a widget”means one or more widgets, unless expressly specified otherwise.Similarly, after reciting the phrase “a widget”, a subsequent recitationof the phrase “the widget” means “the one or more widgets”. Accordingly,it should be understood that the word “the” may also refer to a specificterm having antecedent basis. For example, if a paragraph mentions “aspecific single feature” and then refers to “the specific singlefeature,” then the word “the” should be understood to refer to thepreviously mentioned “a specific single feature.”

The term “plurality” means “two or more”, unless expressly specifiedotherwise.

A “set” of things (e.g., a set of widgets) may include one or more ofthose things (e.g., one or more widgets), which are members of the set.Whether the set includes a particular item as a member is synonymouswith whether a set includes the particular item.

A “subset” of things (e.g., a subset of widgets) may include one or moreof those things. A subset does not imply that there must be in thesubset fewer things than in some other set of things. A subset of aparticular set may include some or all of the members of the set.

A reference to a “plurality” (and like terms such as “at least one”,“one or more”, “set” and the like) has inherent antecedent basis for the“number” of things included in the plurality (or in the set, etc.). Forexample, in the phrase “receiving a plurality of commands”, there isinherent antecedent basis for “the number of commands”. For example, inthe phrase “receiving a set of commands”, there is inherent antecedentbasis for “the number of commands”.

The term “herein” means “in the present application, including anythingwhich may be incorporated by reference”, unless expressly specifiedotherwise.

The phrase “at least one of” is equivalent to “one or more of”, and wheneither such phrase modifies a plurality of things (such as an enumeratedlist of things), such phrase means any combination of one or more ofthose things, unless expressly specified otherwise. For example, thephrase “at least one of a widget, a car and a wheel” means either (i) awidget, (ii) a car, (iii) a wheel, (iv) a widget and a car, (v) a widgetand a wheel, (vi) a car and a wheel, or (vii) a widget, a car and awheel. The phrase “at least one of”, when such phrase modifies aplurality of things does not mean “one of each of” the plurality ofthings. For example, the phrase “at least one of a widget, a car and awheel” does not mean “one widget, one car and one wheel”.

Numerical terms such as “one”, “two”, etc. when used as cardinal numbersto indicate quantity of something (e.g., one widget, two widgets), meanthe quantity indicated by that numerical term, but do not mean at leastthe quantity indicated by that numerical term. For example, the phrase“one widget” does not mean “at least one widget”, and therefore thephrase “one widget” does not cover, e.g., two widgets.

The phrase “based on” does not mean “based only on”, unless expresslyspecified otherwise. In other words, the phrase “based on” covers both“based only on” and “based at least on”. Therefore, the phrase “basedon” is equivalent to the phrase “based at least on” and is alsoequivalent to the phrase “based at least in part on”. For example, thephrase “element A is based on element B and element C” coversembodiments where element A is calculated as the product of B times C(in other words, A=B×C) and where A is calculated as the sum of B plus C(in other words, A=B+C).

The term “represent” and like terms are not exclusive, unless expresslyspecified otherwise. For example, the term “represents” does not mean“represents only”, unless expressly specified otherwise. For example,the phrase “the data represents a credit card number” covers both “thedata represents only a credit card number” and “the data represents acredit card number and the data also represents something else”.

The term “whereby” is used herein only to precede a clause or other setof words that express only the intended result, objective or consequenceof something that is explicitly recited before the term “whereby”. Thus,when the term “whereby” is used in a claim, the clause or other wordsthat the term “whereby” precedes do not establish specific furtherlimitations of the claim or otherwise restrict the meaning or scope ofthe claim.

The terms “e.g.”, “such as” and like terms mean “for example”, and thusdo not limit the term or phrase they explain. For example, in thesentence “the computer sends data (e.g., instructions, a data structure)over the Internet”, the term “e.g.” explains that “instructions” are anexample of “data” that the computer may send over the Internet, and alsoexplains that “a data structure” is an example of “data” that thecomputer may send over the Internet. However, both “instructions” and “adata structure” are merely examples of “data”, and other things besides“instructions” and “a data structure” can be “data”.

The term “time”, when used as a determined quantity, means any sort oftime (e.g., time of day, day of week, date, year) on which one or morethings are determined to occur.

The term “period of time” means any sort of duration (e.g., number ofseconds, number of minutes, other durations) of one or more things.

The term “good” generally refers to anything which may be provided inexchange for money or other value, and thus “good” includes services,rights and items, whether tangible or intangible.

The term “respective” and like terms mean “taken individually”. Thus iftwo or more things have “respective” characteristics, then each suchthing has its own characteristic, and these characteristics can bedifferent from each other but need not be. For example, the phrase “eachof two machines has a respective function” means that the first of thetwo machines has a function and the second of the two machines has afunction as well. The function of the first machine may or may not bethe same as the function of the second machine.

Similarly, in the phrase “for each of the plurality of widgets,determining a respective price of the widget, a reference to “thewidget” in that phrase means the “determining” step is applied to(performed for) each widget of the plurality of widgets. The phrase “therespective prices of the plurality of widgets” thus means the set whichincludes as members each respective price of the plurality of widgets.

The term “i.e.” and like terms mean “that is”, and thus limits the termor phrase it explains. For example, in the sentence “the computer sendsdata (i.e., instructions) over the Internet”, the term “i.e.” explainsthat “instructions” are the “data” that the computer sends over theInternet.

A numerical range includes integers and non-integers within the range,unless expressly specified otherwise. For example, the range “1 to 10”includes the integers from 1 to 10 (e.g., 1, 2, 3, 4, . . . 9, 10) andnon-integers (e.g., 1.1, 1.2, . . . 1.9). A range may be denoted asnon-inclusive explicitly, such as “the range of voltages from 2.5 voltsto 10.3 volts exclusive”, and such a range excludes 2.5 volts andexcludes 10.3 volts.

A range can be continuous or discrete. For example, the range “fromthree meters to five meters” is a continuous range. The range “integerranges from three meters to five meters” is a discrete range.

A range includes two ends, and each such end is, where the range isinclusive, a thing that is included in the range. Thus a rangeinherently has antecedent basis for the term “the ends”, and hasantecedent basis for the term “an end” and has antecedent basis for theterms “the first end” and “the second end”. Where the range is orderedor may be ordered (e.g., a range of integers that may be orderednumerically, a range of text that may be ordered alphabetically) therange includes ends that are distinguishable because of their respectiveordering. Thus a range that may be ordered has antecedent basis forterms that denote the place of the end in the ordering scheme (e.g., arange that can be numerically ordered has a “low end” and a “high end”).

When used to compare values (e.g., integers, fractions) which arecapable of being ordered with respect to each other, the phrase “notgreater than” is equivalent to “less than or equal to”. Similarly, thephrase “not less than” is equivalent to “greater than or equal to”.

In reference to a plurality of things (e.g., a plurality of widgets)superlatives, where a superlative may be applied to the plurality (e.g.,the largest widget of the plurality of widgets, the lowest price of theset of prices) and there is inherently antecedent basis for suchsuperlative.

For example, for a plurality of numbers, there is inherent antecedentbasis for the phrase “the greatest number of the plurality of numbers”,e.g., since numbers can be ordered from least to greatest and thus thegreatest number is readily and unambiguously ascertainable—the greatestnumber is that number of the plurality of numbers which is greater thanall other numbers of the plurality of numbers. Similarly, in anembodiment where there are two equal numbers, and both numbers aregreater than all other numbers in the plurality, then there are twogreatest numbers.

Where two or more terms or phrases are synonymous (e.g., because of anexplicit statement that the terms or phrases are synonymous), instancesof one such term or phrase does not mean instances of another such termor phrase must have a different meaning. For example, where a statementrenders the meaning of “including” to be synonymous with “including butnot limited to”, the mere usage of the phrase “including but not limitedto” does not mean that the term “including” means something other than“including but not limited to”.

II. Determining

The term “determining” and grammatical variants thereof (e.g., todetermine a price, determining a value, the determination of an objectwhich meets a certain criterion) is used in an extremely broad sense.The term “determining” encompasses a wide variety of actions andtherefore “determining” can include calculating, computing, processing,deriving, investigating, looking up (e.g., looking up in a table, adatabase or another data structure), ascertaining and the like. Also,“determining” can include receiving (e.g., receiving information),accessing (e.g., accessing data in a memory) and the like. Also,“determining” can include resolving, selecting, choosing, establishing,and the like.

The term “determining” does not imply certainty or absolute precision,and therefore “determining” can include estimating, extrapolating,predicting, heuristically “best guessing”, averaging and the like.

The term “determining” does not imply that mathematical processing mustbe performed, and does not imply that numerical methods must be used,and does not imply that an algorithm is used.

The term “determining” does not imply that any particular device must beused. For example, a computer need not necessarily perform thedetermining.

III. Forms of Sentences

Where a limitation of a first claim would cover one of a feature as wellas more than one of a feature (e.g., a limitation such as “at least onewidget” covers one widget as well as more than one widget), and where ina second claim that depends on the first claim, the second claim uses adefinite article “the” to refer to that limitation (e.g., “the widget”),this mere usage does not imply that the first claim covers only one ofthe feature, and this does not imply that the second claim covers onlyone of the feature (e.g., “the widget” can cover both one widget andmore than one widget).

Each claim in a set of claims has a different scope. Therefore, forexample, where a limitation is explicitly recited in a dependent claim,but not explicitly recited in any claim from which the dependent claimdepends (directly or indirectly), that limitation is not to be read intoany claim from which the dependent claim depends.

When an ordinal number (such as “first”, “second”, “third” and so on) isused as an adjective before a term, that ordinal number is used (unlessexpressly specified otherwise) merely to indicate a particular feature,such as to distinguish that particular feature from another feature thatis described by the same term or by a similar term, but that ordinalnumber does not have any other meaning or limiting effect—it is merely aconvenient name. For example, a “first widget” may be so named merely todistinguish it from, e.g., a “second widget”. Thus, the mere usage ofthe ordinal numbers “first” and “second” before the term “widget” doesnot indicate any other relationship between the two widgets, andlikewise does not indicate any other characteristics of either or bothwidgets. For example, the mere usage of the ordinal numbers “first” and“second” before the term “widget” (1) does not indicate that eitherwidget comes before or after any other in order or location; (2) doesnot indicate that either widget occurs or acts before or after any otherin time; and (3) does not indicate that either widget ranks above orbelow any other, as in importance or quality. Thus, the mere usage ofthe ordinal number “first” does not indicate that there must be a“second”. For example, the use of the phrase “a first widget” does notimply that there be a second widget. Accordingly, it would not beambiguous or indefinite to use in a claim the term “a first widget”where no “second widget” is recited in that claim (or in any other claimit depends on). The mere usage of the ordinal number “second” or greaterordinal numbers does not indicate that there must be a “first” or anylesser ordinal number. For example, the use of the phrase “a secondplurality of widgets” does not imply that there be a first plurality ofwidgets. Accordingly, it would not be ambiguous or indefinite to use ina claim the term “a second plurality of widgets” where no “firstplurality of widgets” is recited in that claim (or in any other claim itdepends on). A term which is labeled by an ordinal number is differentthan a term that is not modified by any ordinal number. For example, ina claim a reference to “a green widget” and a reference to “a secondgreen widget” means that there are references to different widgets andthus there is no ambiguity as to whether the second green widget is oris not a reference to the green widget. The mere usage of ordinalnumbers does not define a numerical limit to the features identifiedwith the ordinal numbers. For example, the mere usage of the ordinalnumbers “first” and “second” before the term “widget” does not indicatethat there are exactly two widgets.

When a single device, article or other product is described herein, inanother embodiment more than one device or article (whether or not theycooperate) may alternatively be used in place of the single device orarticle that is described. Accordingly, the functionality that isdescribed as being possessed by a device may alternatively be possessedby more than one device or article (whether or not they cooperate) inanother embodiment.

Similarly, where more than one device, article or other product isdescribed herein (whether or not they cooperate), in another embodimenta single device or article may alternatively be used in place of themore than one device or article that is described. For example, aplurality of computer-based devices may be substituted with a singlecomputer-based device. (Conversely, a single computer-based device maybe substituted with multiple computer-based devices operating incooperation with one another.) Accordingly, the various functionalitythat is described as being possessed by more than one device or articlemay alternatively be possessed by a single device or article.

The functionality and/or the features of a single device that isdescribed may, in another embodiment, be alternatively embodied by oneor more other devices which are described but are not explicitlydescribed as having such functionality or features. Thus, otherembodiments need not include the described device itself, but rather caninclude the one or more other devices which would, in those otherembodiments, have such functionality or features.

IV. Disclosed Examples and Terminology are not Limiting

Neither the Title (set forth at the beginning of the first page of thepresent application) nor the Abstract (set forth at the end of thepresent application) is to be taken as limiting in any way the scope ofthe disclosed invention, is to be used in interpreting the meaning ofany claim or is to be used in limiting the scope of any claim. AnAbstract has been included in this application merely because anAbstract is required under 37 C.F.R. §1.72(b).

The headings of sections provided in the present application are forconvenience only, and are not to be taken as limiting the disclosure inany way.

Numerous embodiments are described in the present application, and arepresented for illustrative purposes only. The described embodiments arenot, and are not intended to be, limiting in any sense. The disclosedinventions are widely applicable to numerous embodiments, as is readilyapparent from the disclosure. One of ordinary skill in the art willrecognize that the disclosed invention may be practiced with variousmodifications and alterations, such as structural, logical, software,and electrical modifications. Although particular features of thedisclosed invention may be described with reference to one or moreparticular embodiments and/or drawings, it should be understood thatsuch features are not limited to usage in the one or more particularembodiments or drawings with reference to which they are described,unless expressly specified otherwise.

Though an embodiment may be disclosed as including several features,other embodiments of the invention may include fewer than all suchfeatures. Thus, for example, a claim may be directed to less than theentire set of features in a disclosed embodiment, and such claim wouldnot be interpreted as requiring features beyond those features that theclaim expressly recites.

No embodiment of method steps or product elements described in thepresent application constitutes the invention claimed herein, or isessential to the invention claimed herein, or is coextensive with theinvention claimed herein, except where it is either expressly stated tobe so in this specification or (with respect to a claim and theinvention defined by that claim) expressly recited in that claim.

Any preambles of the claims recite purposes, benefits and possible usesof the claimed invention only and do not limit the claimed invention.

The present disclosure is not an explicit enumeration of all embodimentsof the invention. Also, the present disclosure is not a listing offeatures of the invention which must be present in all embodiments.

All disclosed embodiments are not necessarily covered by the claims(even including all pending, amended, issued and canceled claims). Inaddition, a disclosed embodiment may be (but need not necessarily be)covered by several claims. Accordingly, where a claim (regardless ofwhether pending, amended, issued or canceled) is directed to aparticular embodiment, such is not evidence that the scope of otherclaims do not also cover that embodiment.

Devices that are described as in communication with each other need notbe in continuous communication with each other, unless expresslyspecified otherwise. On the contrary, such devices need only transmit toeach other as necessary or desirable, and may actually refrain fromexchanging data most of the time. For example, a machine incommunication with another machine via the Internet may not transmitdata to the other machine for long periods of time (e.g. weeks at atime). In addition, devices that are in communication with each othermay communicate directly or indirectly through one or moreintermediaries. Devices are in communication with one another if theyare capable of one-way communication with one another. For example, afirst device and a second device may be in communication with oneanother if the first device is capable of transmitting information tothe second device, and the second device is capable of receivinginformation from the first device.

A description of an embodiment with several components or features doesnot imply that all or even any of such components or features arerequired. On the contrary, a variety of optional components aredescribed to illustrate the wide variety of possible embodiments of thepresent invention. Unless otherwise specified explicitly, no componentor feature is essential or required.

Although process steps, algorithms or the like may be described orclaimed in a particular sequential order, such processes may beconfigured to work in different orders. In other words, any sequence ororder of steps that may be explicitly described or claimed does notnecessarily indicate a requirement that the steps be performed in thatorder. The steps of processes described herein may be performed in anyorder possible. Further, some steps may be performed simultaneouslydespite being described or implied as occurring non-simultaneously(e.g., because one step is described after the other step). Moreover,the illustration of a process by its depiction in a drawing does notimply that the illustrated process is exclusive of other variations andmodifications thereto, does not imply that the illustrated process orany of its steps are necessary to the invention, and does not imply thatthe illustrated process is preferred.

Although a process may be described as including a plurality of steps,that does not imply that all or any of the steps are preferred,essential or required. Various other embodiments within the scope of thedescribed invention include other processes that omit some or all of thedescribed steps. Unless otherwise specified explicitly, no step isessential or required.

Although a process may be described singly or without reference to otherproducts or methods, in an embodiment the process may interact withother products or methods. For example, such interaction may includelinking one business model to another business model. Such interactionmay be provided to enhance the flexibility or desirability of theprocess.

Although a product may be described as including a plurality ofcomponents, aspects, qualities, characteristics and/or features, thatdoes not indicate that any or all of the plurality are preferred,essential or required. Various other embodiments within the scope of thedescribed invention include other products that omit some or all of thedescribed plurality.

An enumerated list of items (which may or may not be numbered) does notimply that any or all of the items are mutually exclusive, unlessexpressly specified otherwise. Likewise, an enumerated list of items(which may or may not be numbered) does not imply that any or all of theitems are comprehensive of any category, unless expressly specifiedotherwise. For example, the enumerated list “a computer, a laptop, and aPDA” does not imply that any or all of the three items of that list aremutually exclusive and does not imply that any or all of the three itemsof that list are comprehensive of any category.

An enumerated list of items (which may or may not be numbered) does notimply that any or all of the items are equivalent to each other orreadily substituted for each other. Further, an enumerated listing ofitems does not imply that the items are, or must be, ordered in anymanner according to the order in which they are enumerated.

All embodiments are illustrative, and do not imply that the invention orany embodiments were made or performed, as the case may be.

V. Computing

It will be readily apparent to one of ordinary skill in the art that thevarious processes described herein may be implemented by, e.g.,appropriately programmed general purpose computers, special purposecomputers and computing devices. Typically a processor (e.g., one ormore microprocessors, one or more microcontrollers, one or more digitalsignal processors) will receive instructions (e.g., from a memory orlike device), and execute those instructions, thereby performing one ormore processes defined by those instructions. Instructions may beembodied in, e.g., one or more computer programs, one or more scripts.

A “processor” means one or more microprocessors, central processingunits (CPUs), computing devices, microcontrollers, digital signalprocessors, or like devices or any combination thereof, regardless ofthe architecture (e.g., chip-level multiprocessing or multi-core, RISC,CISC, Microprocessor without Interlocked Pipeline Stages, pipeliningconfiguration, simultaneous multithreading).

A “computing device” means one or more microprocessors, centralprocessing units (CPUs), computing devices, microcontrollers, digitalsignal processors, graphics card, mobile gaming device, or like devicesor any combination thereof, regardless of the architecture (e.g.,chip-level multiprocessing or multi-core, RISC, CISC, Microprocessorwithout Interlocked Pipeline Stages, pipelining configuration,simultaneous multithreading).

Thus a description of a process is likewise a description of anapparatus for performing the process. The apparatus that performs theprocess can include, e.g., a processor and those input devices andoutput devices that are appropriate to perform the process. For example,a description of a process is a description of an apparatus comprising aprocessor and memory that stores a program comprising instructions that,when executed by the processor, direct the processor to perform theprocess.

Further, programs that implement such methods (as well as other types ofdata) may be stored and transmitted using a variety of media (e.g.,computer readable media) in a number of manners. In some embodiments,hard-wired circuitry or custom hardware may be used in place of, or incombination with, some or all of the software instructions that canimplement the processes of various embodiments. Thus, variouscombinations of hardware and software may be used instead of softwareonly.

The term “computer-readable medium” refers to any medium, a plurality ofthe same, or a combination of different media, that participate inproviding data (e.g., instructions, data structures) which may be readby a computer, a processor or a like device. Such a medium may take manyforms, including but not limited to, non-volatile media, volatile media,and transmission media. Non-volatile media include, for example, opticalor magnetic disks and other persistent memory. Volatile media includedynamic random access memory (DRAM), which typically constitutes themain memory. Transmission media include coaxial cables, copper wire andfiber optics, including the wires that comprise a system bus coupled tothe processor. Transmission media may include or convey acoustic waves,light waves and electromagnetic emissions, such as those generatedduring radio frequency (RF) and infrared (IR) data communications.Common forms of computer-readable media include, for example, a floppydisk, a flexible disk, hard disk, magnetic tape, any other magneticmedium, a CD-ROM, DVD, any other optical medium, punch cards, papertape, any other physical medium with patterns of holes, a RAM, a PROM,an EPROM, a FLASH-EEPROM, any other memory chip or cartridge, a carrierwave as described hereinafter, or any other medium from which a computercan read.

The term “tangible computer-readable medium” refers to a“computer-readable medium” that comprises a hardware component, such asoptical or magnetic disks, semiconductor memory (e.g., RAM, ROM, flashdrives, semiconductor hard drives).

Various forms of computer readable media may be involved in carryingdata (e.g. sequences of instructions) to a processor. For example, datamay be (i) delivered from RAM to a processor; (ii) carried over awireless transmission medium; (iii) formatted and/or transmittedaccording to numerous formats, standards or protocols, such as Ethernet(or IEEE 802.3), SAP, ATP, Bluetooth, and TCPorIP, TDMA, CDMA, and 3G;and/or (iv) encrypted to ensure privacy or prevent fraud in any of avariety of ways well known in the art.

A “user interface” is ‘used by’ a device, such as a computing device, toprovide outputs to a user and to receive inputs from a user. Forexample, the user interface may direct the device to display (orotherwise provide) certain outputs (as defined by the user interface),and allow inputs to be received from the user via the device. In anembodiment, in order for the device to generate the user interface, thedevice executes certain instructions, e.g., instructions to output dataand receive data as inputs. A user interface can include one or moreoutput controls which output data and/or one or more input controlswhich allow data to be received. A type of input control allows aselection of an option from among a plurality of options, and may allowonly one option to be selected, may allow one or more options to beselected, may allow that a predetermined number of options are selected,may allow that no options are selected. An input control may define theformat of type of input that may be entered. A control may function asboth an input control and as an output control.

A description of different capabilities of a user interface (e.g., bydescribing different embodiments of a user interface, by describingdifferent things that a user interface can do) does not mean that in allembodiments the user interface must include all such describedcapabilities. On the contrary, such description also supports anembodiment in which, e.g., a user interface has only one of thedescribed capabilities, and supports an embodiment in which a userinterface has a particular combination of less than all of the describedcapabilities.

A description of a process is likewise a description of acomputer-readable medium storing a program for performing the process.The computer-readable medium can store (in any appropriate format) thoseprogram elements which are appropriate to perform the method. Forexample, a description of a process is a description of acomputer-readable storage medium that stores a program comprisinginstructions that, when executed by a processor, direct the processor toperform the method.

Just as the description of various steps in a process does not indicatethat all the described steps are required, embodiments of an apparatusinclude a computer or computing device operable to perform some (but notnecessarily all) of the described process.

Likewise, just as the description of various steps in a process does notindicate that all the described steps are required, embodiments of acomputer-readable medium storing a program or data structure include acomputer-readable medium storing a program that, when executed, cancause a processor to perform some (but not necessarily all) of thedescribed process.

Where databases are described, it will be understood by one of ordinaryskill in the art that (i) alternative database structures to thosedescribed may be readily employed, and (ii) other memory structuresbesides databases may be readily employed. Any illustrations ordescriptions of any sample databases presented herein are illustrativearrangements for stored representations of information. Any number ofother arrangements may be employed besides those suggested by, e.g.,tables illustrated in drawings or elsewhere. Similarly, any illustratedentries of the databases represent exemplary information only; one ofordinary skill in the art will understand that the number and content ofthe entries can be different from those described herein. Further,despite any depiction of the databases as tables, other formats(including relational databases, object-based models and/or distributeddatabases) could be used to store and manipulate the data typesdescribed herein. Likewise, object methods or behaviors of a databasecan be used to implement various processes, such as those describedherein. In addition, the databases may, in a known manner, be storedlocally or remotely from a device which accesses data in such adatabase.

Various embodiments can be configured to work in a network environmentincluding a computer that is in communication (e.g., via acommunications network) with one or more devices. The computer maycommunicate with the devices directly or indirectly, via any wired orwireless medium (e.g. the Internet, LAN, WAN or Ethernet, Token Ring, atelephone line, a cable line, a radio channel, an optical communicationsline, commercial on-line service providers, bulletin board systems, asatellite communications link, a combination of any of the above). Eachof the devices may themselves comprise computers or other computingdevices, such as those based on the Intel® Pentium® or Centrino™processor, that are adapted to communicate with the computer. Any numberand type of devices may be in communication with the computer.

In an embodiment, a server computer or centralized authority may not benecessary or desirable. For example, the present invention may, in anembodiment, be practiced on one or more devices without a centralauthority. In such an embodiment, any functions described herein asperformed by the server computer or data described as stored on theserver computer may instead be performed by or stored on one or moresuch devices.

Where a process is described, in an embodiment the process may operatewithout any user intervention. In another embodiment, the processincludes some human intervention (e.g., a step is performed by or withthe assistance of a human).

VI. Continuing Applications

The present disclosure provides, to one of ordinary skill in the art, anenabling description of several embodiments and/or inventions. Some ofthese embodiments and/or inventions may not be claimed in the presentapplication, but may nevertheless be claimed in one or more continuingapplications that claim the benefit of priority of the presentapplication.

Applicants intend to file additional applications to pursue patents forsubject matter that has been disclosed and enabled but not claimed inthe present application.

VII. 35 U.S.C. §112, Paragraph 6

In a claim, a limitation of the claim which includes the phrase “meansfor” or the phrase “step for” means that 35 U.S.C. §112, paragraph 6,applies to that limitation.

In a claim, a limitation of the claim which does not include the phrase“means for” or the phrase “step for” means that 35 U.S.C. §112,paragraph 6 does not apply to that limitation, regardless of whetherthat limitation recites a function without recitation of structure,material or acts for performing that function. For example, in a claim,the mere use of the phrase “step of” or the phrase “steps of” inreferring to one or more steps of the claim or of another claim does notmean that 35 U.S.C. §112, paragraph 6, applies to that step(s).

With respect to a means or a step for performing a specified function inaccordance with 35 U.S.C. §112, paragraph 6, the correspondingstructure, material or acts described in the specification, andequivalents thereof, may perform additional functions as well as thespecified function.

Computers, processors, computing devices and like products arestructures that can perform a wide variety of functions. Such productscan be operable to perform a specified function by executing one or moreprograms, such as a program stored in a memory device of that product orin a memory device which that product accesses. Unless expresslyspecified otherwise, such a program need not be based on any particularalgorithm, such as any particular algorithm that might be disclosed inthe present application. It is well known to one of ordinary skill inthe art that a specified function may be implemented via differentalgorithms, and any of a number of different algorithms would be a meredesign choice for carrying out the specified function.

Therefore, with respect to a means or a step for performing a specifiedfunction in accordance with 35 U.S.C. §112, paragraph 6, structurecorresponding to a specified function includes any product programmed toperform the specified function. Such structure includes programmedproducts which perform the function, regardless of whether such productis programmed with (i) a disclosed algorithm for performing thefunction, (ii) an algorithm that is similar to a disclosed algorithm, or(iii) a different algorithm for performing the function.

Where there is recited a means for performing a function that is amethod, one structure for performing this method includes a computingdevice (e.g., a general purpose computer) that is programmed and/orconfigured with appropriate hardware to perform that function.

Also included is a computing device (e.g., a general purpose computer)that is programmed and/or configured with appropriate hardware toperform that function via other algorithms as would be understood by oneof ordinary skill in the art.

VIII. Disclaimer

Numerous references to a particular embodiment do not indicate adisclaimer or disavowal, from the scope of the invention, of additional,different embodiments, and similarly references to the description ofembodiments which all include a particular feature do not indicate adisclaimer or disavowal of embodiments which do not include thatparticular feature. A clear disclaimer or disavowal in the presentapplication will explicitly refer to the scope of the invention asdisclaiming or disavowing certain subject matter and will also beprefaced by a phrase such as “does not include” or “cannot perform”.

IX. Incorporation by Reference

Any patent, patent application or other document referred to herein isincorporated by reference into this patent application as part of thepresent disclosure, but only for purposes of written description andenablement in accordance with 35 U.S.C. §112, paragraph 1, and should inno way be used to limit, define, or otherwise construe any term of thepresent application, unless without such incorporation by reference, noordinary meaning would have been ascertainable by a person of ordinaryskill in the art. Conversely, the definitions and other subject matterexplicitly set forth in this application should not be used to limit,define, or otherwise construe any term of any document incorporatedherein by reference. Nothing explicitly set forth in this applicationshould be interpreted as an admission or characterization of any priorart to this application.

Any incorporation by reference does not, in and of itself, imply anyendorsement of, ratification of or acquiescence in any statements,opinions, arguments or characterizations contained in any incorporatedpatent, patent application or other document, unless explicitlyspecified otherwise in this patent application.

X. Prosecution History

In interpreting the present application (which includes the claims), oneof ordinary skill in the art refers to the prosecution history of thepresent application, but not to the prosecution history of any otherpatent or patent application, regardless of whether there are otherpatent applications that are considered related to the presentapplication, and regardless of whether there are other patentapplications that share a claim of priority with the presentapplication.

XI. Other Embodiments

In an embodiment, a central server or other device can be operable torun a video game. For example, the device may be operable to run a videogame because the device includes or receives software which, whenexecuted by the device, allows the device to run the video game. In anembodiment, a central server or other device is operable to run amassive multi player online game, and the game is operable tosimultaneously support a plurality of players via a plurality of videogame devices (e.g., video game consoles). In an embodiment, each of theplayers controls one or more player characters. In an embodiment, theplayers are able to interact with each other in the video game, e.g.,via avatars, via another representation of a player character.

Unless stated to the contrary, for the purposes of the presentdisclosure, the following terms shall have the following definitions:

Credit Card—a credit instrument issued by a real or virtual worldinstitution to a player that allows the player to make purchases byproviding an account identifier (e.g. a credit card number) rather thancash or other currency. An example is a credit card like those issued byVisa, MasterCard, or American Express. For the purposes of the presentdisclosure, the term “Credit card” is intended in a very broad sense andis not limited to those situations in which a player's purchases aremade on credit (i.e. where payments for those purchases is not due untila later time) but also includes financial instruments such as debitcards, check cards, lines of credit and the like.

Virtual credit card—a financial instrument issued in a virtualenvironment that acts in the virtual environment for virtual currencythe way a real world credit card acts in the real world for realcurrency.

Real Cash Value—the value in real dollars of the virtual currency. Thisvalue can be determined by multiplying the value of a virtual currencyamount by the current exchange rate to real dollars.

Total virtual obligation amount—the total amount of the virtualfinancial obligation(s) associated with a player character's account.

Virtual Contract—means an enforceable agreement with a player (or playercharacter), such as between players or between a player and a gameserver operator. Some examples of virtual contracts are provided in U.S.Patent Application Ser. No. 60/652,036, which is hereby incorporated byreference as part of the present disclosure.

Virtual—shall mean in a video game environment or other intangiblespace.

Virtual World—a world created in an online game such as World ofWarcraft, or a virtual community such as Second Life, Eve or There.com.

Virtual Creditor—shall mean a first player character or other entity whois owed a virtual obligation by a second player character.

Virtual Credit Score—a score given to player characters in a video gamebased on one or more of the following criteria: the virtual assets theypossess, the age of the character account, the type of account, e.g.basic or premium, the available credit line of the credit cardassociated with the account, the existing virtual financial obligationsof the player character account, the player character's payment historyincluding days to pay, amounts overdue or delinquent, and/or the playercharacter's real world credit score, and/or the factors used in the realworld to determine a credit score.

Virtual Financial Account—a virtual account issued to a player characterby a virtual bank, game server or third party where virtual cash can bedeposited and withdrawn.

Virtual Financial Obligation—An agreement by a player character orentity to pay one or more game attributes to another player character,entity or the game server. This obligation can be a one time payment, ormay require multiple payments over time. The obligation may specify whenpayments and/or interest are due.

Virtual Financial Intermediary—Financial intermediaries are institutionsincluding depository institutions, contractual savings institutions, andinvestment intermediaries which offer financial products and servicesfor use within the virtual environment. The various financialintermediaries available in the virtual environment may each servedifferent or overlapping purposes and provide means for using, saving,borrowing and transferring currency.

Virtual Financial Obligation Value—the in game value of the obligation.For virtual cash the value may be stated as a virtual and/or real cashamount. For other game attributes, the value can be determined bygenerating a virtual cash market value for the item based on the currentvalue in an online marketplace or exchange. The value of the obligationmay be fixed or variable and may also be set as a condition of theplayer contract and/or by the game server or other entity.

Billing Information—shall mean any information pertaining to billing aplayer for playing a game, accessing a game, purchasing goods orservices, or any other reasons. Billing information may include suchreal world information as a billing address, credit card account number,bank account number, pay pal account number or other paymentfacilitator, or the account number of any other financial entityproviding a real world credit line or any other payment-relatedinformation.

Player Character—shall mean a persona in a video game that is createdand/or operated by a player of the video game. Such a player may bereferred to as the player corresponding to the character.

Avatar—the virtual representation of a player character. In anembodiment, an avatar can be a two dimensional or three dimensionalgraphical depiction of a person or other humanoid, with arms and legs.

Character Account—an account that tracks character attributes.

Character Attribute—any quality, trait, feature or characteristic aparticular Character can have that is stored in the correspondingCharacter Account. Character Attributes may include, but are not belimited to: 1. A character score 2. A virtual object 3. The physicalappearance of a character 4. An emblem or mark 5. A synthetic voice 6.Virtual currency 7. Virtual help points or credits 8. The ability tojoin groups of other players at a later time 9. A score for subsequentmatching of later game parameters 10. A relationship with anothercharacter 11. A genetic profile or makeup 12. A skill or skill level 13.A ranking

Character Life—a fixed or variable, finite or infinite period of virtualor real world time that a player character can exist in a gameenvironment.

Character Skills—game attributes inherent in or acquired by a playercharacter during game play such as, but not limited to: the ability tocast (certain) spells, foretell the future, read minds, use (certain)weapons, cook, hunt, find herbs, assemble herbs into potions, mine,assemble objects into other objects, fly, and/or enchant other playercharacters.

Computer Generated (CGC) or Non-Player (NPC) Character—any characterthat is controlled by the game system and/or a computer program and/orrules established by the game system and/or a player and not by a playeron a continuous basis.

Game performance parameter—any aspect of a Video Game by which a playercharacter's performance can be measured. Game Parameters shall include,but not be limited to: 1. Completing all or part of a mission 2. Playingfor a certain period of time 3. Winning a match against another playercharacter or computer generated character 4. Reaching a certain level orscore 5. using or obtaining an ability or technology 6. kill/deathratios 7. obtaining, creating or modifying an object 8. solving a puzzle9. accuracy with weapons 10. effective use of the proper weapon 11.killing a certain character/creature 12. getting through or to a certaingeographic area 13. decreasing or increasing Karma Points 14. getting,buying, exchanging or learning a new skill or player attribute 15.having a child 16. getting married 17. obtaining, buying, trading,producing or developing raw materials 18. producing goods or services19. earning income 20. earning a higher rank in an army 21. winning anelection among two or more player characters 22. achieving deity orother status 23. improving player character status or caste 24.assisting other player characters with any of the above 25. speed ofaccomplishing or changing the rate or trends of any or all of the above.

In-game Marketplace—shall mean a virtual environment where Characterscan exchange items, attributes, or any other exchangeable game element.

Novice Player—shall mean a player that is identified as requiring thehelp of an expert to complete a Game Parameter.

Player—shall mean a person that plays a video game. In an embodiment,the video game may permit players to register an account with a VideoGame Central Server or within a peer-to-peer network, and/or create oroperate player characters that can interact with other player charactersin a virtual environment.

Player Account—shall mean an account (e.g., stored on the video console,stored on the video game central server, or stored across a peer-to-peernetwork) that describes player information, such as personalinformation, billing information, and character account information.

Player Attribute—shall mean any attribute that can be applied to aplayer account. Player Attributes shall include, but not be limitedto: 1. Real Currency. 2. Discount of monthly fees for playing game. 3.Monthly fee for playing a game. 4. Interest rates for use of orborrowing real or virtual cash amounts. 5. Global character attributesettings for all characters created by player across multiple games. 6.Rewards for encouraging another player to sign up to play.

Player to Player Contract—a virtual contract between players that allowsplayers to enforce promises, such as promises to provide services orexchange game attributes to one another. In an embodiment, once aplayer-to-player contract is established, the game server automaticallydistributes acquired game attributes between the player characters basedon the terms of the contract.

Video Game—a game played on a video game console. One type of video gameis networked to a Video Game Central Server. Another type of video gameis networked within a peer-to-peer network. A video game may includemany games and may include other features separate from game playing. Insome video games, characters can interact with each other in a virtualenvironment that is stored on the video game central server and thevideo game consoles.

Video Game Console—means a device comprising a CPU, memory and optionalpermanent storage, where the device resides at a player location (e.g.,home, office, game playing business, portable and carried with theplayer), and where the device allows for the playing of video games(e.g., by executing software). Examples of video game consoles includehome computers, cell phones, smart phones, PDAs, Microsoft Xbox, SonyPlaystation, Sony PlayStation Portable. A video game console may or maynot be networked. A video game console may be capable of performingadditional functions besides allowing for the play of video games.

Video Game Central Server—means a device comprising a CPU, memory andpermanent or temporary storage, where the device is connected tomultiple video game consoles (e.g., via the Internet or other network)and where the device allows for video games such as Massive Multi PlayerOnline Video Games to be played by a plurality of players (e.g., the CPUis programmed to execute a method that allows for Massive Multi PlayerOnline Video Games to be played). A video game central server maycomprise a plurality of cooperating or redundant servers or otherdevices. In an embodiment, a video game central server runs an onlinegame that is operable to support a plurality of players via a pluralityof video game devices, and each of the players can control at least oneplayer character.

“Game Environment”—a particular level or area within a virtual world.Each game environment may have its own rules, regulation, currency,government, managers, etc. Game environments may exist within other gameenvironments.

Massive multi player online games (MMOGs) or massive multi-player roleplaying games (MMORPGs) are computer games capable of supportinghundreds, thousands, or millions of players simultaneously. Typically,this type of game is played in a giant persistent world where the gamecontinues playing regardless of whether or not real players are loggedin. Players commonly access these games through a network such as theInternet, and may or may not be required to purchase additional softwareor hardware in order to play the game. Such networks allow for peopleall over the world to participate and interact with each other in avirtual environment. The present disclosure provides systems and methodswhich contribute to the evolution and longevity of such a game.

Video games can be run to allow access by many players (e.g., via aserver, via a peer to peer network). For example, hundreds of thousandsof players access games known as massive multi-player online games(MMOGs) and massive multi-player online role playing games (MMORPGs).Players of these games may access a game repeatedly (for durationstypically ranging from a few minutes to several days) over a givenperiod of time, which may be days, weeks, months or even years. In somemultiplayer games, once a player logs out of the game, game play cancontinue and the virtual world can be altered by the actions of otherplayers, resulting in a different virtual world when the player logs inagain.

Games may involve players paying a periodic subscription price (e.g.,$20 per month) rather than, or in addition to, paying a one timepurchase price for the game. Often, though not necessarily, these gameshave no ultimate “winner” or “winning goal,” but instead attempt tocreate an enjoyable playing environment and a strong player community.

The herein described aspects and drawings illustrate componentscontained within, or connected with other components that permit play inthe virtual environment. It is to be understood that such depicteddesigns are merely exemplary and that many other designs may beimplemented to achieve the same functionality. Any arrangement ofcomponents to achieve the same functionality is effectively associatedsuch that the desired functionality is achieved. FIG. 1 provides anexemplary network which may be used to support a virtual environment.

Referring to FIG. 1, a network 10 according to one embodiment includes acentral server 20 in communication with a plurality of video gameplaying units 18. Those of ordinary skill in the art will appreciatethat any number of video game playing units may be in communication withthe central server. Typically, the number of video game playing unitschanges at various times as players join games and as players stopplaying games. Similarly, more than one server may operate to coordinatethe activities of the video game playing units, as is well known in theart.

Central server 20 may comprise any computing device (e.g., one or morecomputers) capable of communicating with other computing devices. Theserver 20 typically comprises a processor which is in communication witha storage device, such as an appropriate combination of RAM, ROM, harddisk, and other well known storage media. Central server 20 may compriseone or more personal computers, web servers, dedicated game servers,video game consoles, any combination of the foregoing, or the like.

Each video game device 18 may comprise any device capable ofcommunicating with central server 20, providing video game informationto a player, and transmitting the player's desired actions to thecentral server. Each video game device typically comprises a processorwhich is in communication with a storage device, such as an appropriatecombination of RAM, ROM, hard disk, and other well known storage media.Suitable video game devices include, but are not limited to, personalcomputers, video game consoles, mobile phones, and personal dataassistants (PDAs).

Some or all of video game 17 can be stored on central server 20.Alternatively, some or all of video game 17 may be stored on theindividual video game devices 18. Typically, the video game devices areable to communicate with one another. Such communication may or may notbe facilitated by central server 20. Accordingly, a player 19 aaccessing video game 17 via game device 18 a may be able to play with aplayer 19 b accessing video game 17 via game device 18 b. As shown, itmay be possible for multiple players (e.g. 19 c, 19 d) to access centralserver 20 via the same game device (e.g. 18 c).

Regardless of whether video game 17 is stored on central server 20 orvideo game devices 18, server 20 is typically configured to facilitateplay of the game between multiple game players.

Those having skill in the art will recognize that there is littledistinction between hardware and software implementations. The use ofhardware or software is generally a choice of convenience or designbased on the relative importance of speed, accuracy, flexibility andpredictability. There are therefore various vehicles by which processesand/or systems described herein can be effected (e.g., hardware,software, and/or firmware) and that the preferred vehicle will vary withthe context in which the technologies are deployed.

At least a portion of the devices and/or processes described herein canbe integrated into a data processing system with a reasonable amount ofexperimentation. Those having skill in the art will recognize that atypical data processing system generally includes one or more of asystem unit housing, a video display device, memory, processors,operating systems, drivers, graphical user interfaces, and applicationprograms, interaction devices such as a touch pad or screen, and/orcontrol systems including feedback loops and control motors. A typicaldata processing system may be implemented utilizing any suitablecommercially available components to create the gaming environmentdescribed herein.

While virtual environments as previously described allow forinteractions between players, the amount and depth of interaction may belimited by the parameters of the game. For example, most virtualenvironments lack sophisticated financial systems. They therefore limitthe capital raising ability of virtual entities such as gameenvironments as well as potential investment opportunities forcharacters. This limits the scope of interactions available and inhibitsgrowth and development of both the virtual economy and the virtualenvironment, decreasing the depth and enjoyment of play available.

Various embodiments of the invention address this issue by providing ameans for raising funds for development in an online environment. Such asystem allows for the development of the game and widens the financialopportunities available to players, increasing the enjoyment of theplayers and the sophistication of play available.

Funding may be sought for a variety of reasons including, but notlimited to expansion plans, public works, construction, public services,development of infrastructure, the building of any virtual business, thepromotion of any virtual business or event, the payment of a virtualdesign on any virtual product, the performance of one or more virtualservices, or any of a myriad of other reasons for which exterior fundingmay be required. Such funding may be obtained through a variety of meansboth public and private including, but not limited to, taxes, fees,licenses, bond issuance, loans, investors, commercial paper, convertibledebt, bills, notes, debt issuance, promissory notes, venture capital,the issuance of private shares, transforming the game environment into apublic company through an initial public offering, or through a followon offering such as the issuance of common stock, preferred stock, ortreasury stock.

In one embodiment, a game environment may impose virtual taxes on thecharacters that play in that environment and/or businesses that operatein an environment. Taxes may be imposed using any means applicable andin any form suited to meet the purposes of the game environment imposingthe taxes. Taxes may be direct or indirect. They may be ad valorum taxessuch as sales taxes, tariffs, property taxes, inheritance taxes, andvalue added taxes. Tax rates may be progressive or flat. There may beincome taxes, retirement taxes, capital gains taxes, corporate taxes,poll taxes, excises, toll taxes, use taxes, transfer taxes, inheritancetaxes, and wealth taxes. Such taxes may be flat fees, percentages, or acombination thereof.

In another embodiment, the virtual tax system could be a lottery. Thevirtual governing body could set the lottery ticket price, where thefunds are allocated, the percentage of the collected funds that will bedistributed to the winner, and the method of distribution. The winningnumber or other indication of winning could be determined by anindependent party or by the governing body. In one embodiment, the fundsthat are not distributed to the winner could be used to fund virtualpublic works.

In a further embodiment, a game environment may charge fees or requirelicenses for certain virtual services. For example, fees may be chargedto open virtual businesses. There may be exchange fees, servicing fees,credit verification fees, processing fees, insurance fees, applicationfees, late payment fees, prepayment fees, etc. For example, a player orvirtual business interested in providing financing options may berequired to have a premium account or may be required to pay a fee. Inanother embodiment, characters providing certain services such asvirtual exchange trading may need to pay a licensing fee in order torepresent other characters. Fees may be flat fees, per transaction fees,a fee based on a percentage of the transaction or any combination of theabove.

In one embodiment, fees may be charged for the use of the virtualproject being funded. For example, residents of a game environment maybe assessed a fee for the construction of a virtual public work fromwhich they will receive the benefit. In another embodiment, characterscould be charged a fee for the use of a virtual public work and suchfees could be used to construct other virtual public works. Fees may bea flat fee, a per transaction fee, a percentage fee, or a combinationthereof. In yet another embodiment, those who helped fund the virtualpublic work, will not be charged a fee or may be charged a reduced feeto use the virtual public work once it is completed, while those who didnot contribute to its construction would be charged a larger fee. Suchrights to reduced or eliminated fees may be marketable, inheritable, orattached to the character who paid the initial fee. An evaluation ofsuch rights and an assessment of the necessary fee could be made usingone or more of the following steps: 1. Determine that a player has useda virtual asset. 2. Determine if player assisted in funding the virtualasset. 3. Determine a fee for using the virtual asset based on whetheror not and to what degree character funded the creation of the virtualasset. 4. Output fee to player. In another embodiment, the charactercould request to use the virtual public work and be assessed a fee usingsome or all of the following steps: 1. Receive a request to use avirtual utility. 2. Determine a usage fee and a registration fee. 3.Output fees. 4. Receive payment for fees. 5. Register player or group ofplayers to use utility, including player character credit card to becharged if virtual cash is not available for fee. Fees could also beassessed automatically, for example using some or all of the followingsteps: 1. Determine a virtual cash fee is due for using a utility; 2.withdraw virtual cash fee from account(s) of player character or groupof player characters using the utility. If the virtual cash fee is notavailable, then some or all of the following steps could be used toobtain fees from other sources: 1. Determine real cash value for theutility fee. 2. Retrieve credit card associated with player character.3. Charge real cash value to credit card. 4. Convert real cash intovirtual cash. 5. Deposit virtual cash into account.

In a further embodiment, a game environment, including a business, mayobtain funds from third parties on a temporary basis. Funds may be lentthrough the issuing of virtual bonds, virtual governing entitysecurities, and virtual consumer and commercial loans or by any othermeans typically used to advance funds.

It is to be understood that players may control one or more charactersand each character may apply for and obtain one or more loans.Additionally, groups of characters may come together and apply forloans. In some embodiments, a player character may be limited fromlending currency to himself, another player character controlled by thesame player, or a player character that is a family member, guildmember, or affiliated in some way with the lending player character. Forexample, a virtual state run virtual bank may be prohibited from lendingmoney to the virtual state that controls it.

For ease of description, the term “bank” is used throughout the presentdisclosure when describing an exemplary embodiment of a financialintermediary or other lending entity which may function as a lendinginstitution, however it is understood that the processes as describedherein may apply to any type of financial intermediary or lendinginstitution and the types of services they generally provide in the realworld. Virtual banks are described, for example, in co-pending U.S.patent application Ser. No. 11/421,263, filed May 30, 2006 and11/535,585, filed Nov. 27, 2006, each of which is hereby incorporated byreference.

A virtual loan may be obtained by applying for a loan, receiving theterms of the loan, agreeing to the terms of the loan and receiving thefunds. An exemplary system 100 configured to provide the virtualenvironment described above is shown in FIG. 2. As shown, system 100 mayinclude a game server 102, a bank server 104, and a credit card server106.

Game server 102 may include a Loan Creation Program 108, whereby a bankserver or other third party can register a loan with the game server.Game server 102 may further include a Loan Payment Program 110, a LoanConverted to Shares of Asset Program 120 and a Loan Registration Program122. Bank Server 104 may equally be any other financial intermediaryserver including a contractual savings institution or investmentintermediary server. Such servers 104 may include a Loan GenerationProgram 126, a Register Loan with Game Server Program 130, a LoanPayment Program 138, a Ping Credit Line 140, a Prohibit Sale of VirtualAssets Program 142, a Release Credit Line when Loan is paid 144, and aLoan Converted to Shares of Asset Program 154. Bank server 104 mayadditionally include databases such as loan account database 170 andaccount database 174. Credit Card Server 106 may include a Lock CreditLine Program 158, a Release Credit Line 162, and a Ping Credit Lineprogram 164.

Loan Generation Program 126 may create a loan using some or all of thefollowing method steps: 1. Receive a request to borrow virtual cashincluding a player character ID and a real world account number. 2.Validate real world account number and credit line amount. 3. Determinea virtual loan amount based on credit line amount. 4. Determine aninterest rate and virtual payment schedule. 5. Output a virtual loanoffer including a virtual cash loan amount, virtual interest rate andvirtual payment schedule to player character. 6. Receive acceptance ofvirtual loan offer from player character(s). 7. Lock real world creditline. 8. Create new virtual loan record. 9. Output virtual currency togame environment account. In one embodiment, the virtual loan may beregistered with the game server using loan registration program 122. Inanother embodiment, a credit line provided may be locked using lockcredit line program 158. In a further embodiment, information regardingrepayment of a loan may be stored using loan payment program 1110. Allinformation regarding the virtual loan may be stored by any meansapplicable, for example in loan account database 170.

In one embodiment, the virtual loan may be the sum of the credit lines agroup of player characters are willing to make available on their creditcard accounts to secure the loan. In another embodiment, a gameenvironment may borrow funds based on its own standing without thesecurity offered by the player characters controlling the gameenvironment. A game environment may have its own accounts, its ownfunding, and may be evaluated based on its own history, creditworthinessor other valuation.

Virtual loans may be secured or unsecured. An unsecured loan is a loanthat is issued and supported only by the borrower's creditworthiness,rather than by some sort of collateral. A secured loan is a loan whichis backed by collateral. Such collateral may belong to the character orgame environment seeking the loan or to a third party. The collateralmay be a real world credit line supported by a real world financialinstitution, a real world financial security, a real world asset, avirtual financial institution, a virtual credit line, a virtualfinancial security, a virtual property or business, a virtual asset, areal world property, a promise to perform certain services or anycombination thereof. For example, one type of collateral is points,credits or other accounting items (e.g., Facebook credits) which may beredeemed for goods or services (e.g., for apps, games, virtual items)with one or more merchants or other entities (e.g., Facebook, video gameproviders). Another type of collateral is access to a credit line forreal currency, or to a credit line for points, credits or otheraccounting items.

In one embodiment, the collateral is a real world credit line. Eachplayer may indicate the amount of collateral in the form of the realworld credit line he is willing to allocate against the virtual loan.Such a real world credit line may be a credit card, debit card, privateor public payment facilitator account (i.e. paypal), brokerage account,equity line or other financial security and/or the financial security ofanother player character and/or a non-playing third party, such as abank, credit institution, credit card company, mutual fund, hedge fund,insurance company, etc. or any combination of these or any other type ofreal world financial instrument or institution that provides a creditline or holds or secures assets for third parties.

According to one embodiment, real world credit lines can be frozen bythe bank owner or game server, and/or just periodically “pinged” toensure their validity and that sufficient credit is available tounderwrite the loan. The continuing availability of the real worldcredit line may be determined by any means applicable. According to oneembodiment, Ping Credit Line program 138 may be configured to completesome or all of the following steps: 1. Determine that a player characterhas an outstanding virtual loan. 2. Determine real and virtual cashvalue of loan. 3. Retrieve credit card associated with loan. 4. Pingcredit card for the outstanding real cash value of the loan amount.

5. If credit equal to loan amount is not available. 6. Liquidate virtualassets of player character equal to virtual cash value of virtual loan.7. Deposit virtual cash in loan account to pay off loan. The “ping” fromthe bank server may be responded to by ping credit line program 164 onthe credit card issuer server.

In the event a credit line securing the virtual loan is cancelled orclosed, the system could receive notification that the credit card orcredit line is no longer valid. Upon notification that a credit line isno longer valid, the bank, system, game owner, server owner, or otherdebt holder may require payment in full of the virtual loan, require theplayer to provide a new credit line, require additional collateral tosecure the virtual loan, secure a secondary line of credit which waspreviously provided or may be secured from other player characters,notify other characters of the opportunity to purchase a virtual loan,foreclose on virtual assets held by the defaulting character, freeze thevirtual accounts of the character or player, or any combination thereof.In another embodiment, the balance of the virtual loan may bereallocated among the remaining credit cards securing a group loan.

The lock on the real world credit line may be released when the virtualloan is repaid. According to one embodiment, Release Credit Line whenLoan is Paid program 144 may be configured to: 1. Receive indicationthat final payment of virtual loan has been received. 2. Retrieve creditcard associated with virtual loan. 3. Notify credit card issuer torelease credit line.

Alternatively, as the virtual loan is paid down, a percentage of thereal world credit line(s) may be released in proportion to or in someother ratio with the amount paid. In this example, the real world creditline held is reduced as the virtual loan is repaid, instead of waitingfor the entire virtual loan to be repaid, thus freeing real world creditlines for other purposes. Such a release could be managed by any meansavailable. According to one embodiment, Release Credit Line when Loan isPaid program 144 may be configured to: 1. Receive indication that aperiodic payment of virtual loan has been received. 2. Retrieve creditcard associated with virtual loan. 3. Notify credit card issuer torelease an equal or other determined portion of the credit line.Management of information regarding payments which would trigger ReleaseCredit Line when Virtual Loan is Paid program 144 may be controlled byVirtual Loan Payment program 138. This program may then instruct thecredit card issuer server to release the credit line using ReleaseCredit Line program 162.

In an embodiment, where (periodic or other) payments are required theamount to be paid (on a single payment or on more than one payment) candischarged or reduced in exchange for the player performing particularactivities, such as (i) using a particular service at least apredetermined number of times, (ii) using a particular service at leasta predetermined number of minutes, (iii) buying a real or virtual itemvia a particular service, (iv) spending at least a predetermined amountof money or other value via a particular service, (v) watchingadvertising, (vi) having at least a particular number of friends orconnections (e.g., in a social network), (vii) recruit at least aparticular number of new friends or connections (e.g., in a socialnetwork), (viii) maintaining a particular status with a particularservice.

A real or virtual credit line can secure the virtual loan paymentamount, the entire virtual loan amount, or a ratio of the two. Incalculating the amount to be secured factors such as game growth rates,taxes, inflation and/or exchange rates, credit worthiness of thecharacter or player, riskiness of the venture or purpose of the virtualloan, the amount of debt the character, player or game environment hasoutstanding, or any combination thereof may be considered in determiningthe total amount to secure on the real world credit line. Suchdeterminations and evaluations may be made by a) the game manufacturer,b) the owner(s) of the server(s) upon which the game resides, c) one ormore player characters, d) market forces, e) negotiation among theaffected parties, f) any combination of the above. Information regardingthe credit lines used to secure a virtual loan may be stored by anymeans applicable. In one embodiment, such information may be stored inAccount database 174.

In one embodiment, the amount of a real world credit line to be frozencan be based on the exchange rate of virtual currency for real currency.According to one embodiment, the exchange rate could be one for one.Alternatively, the exchange rate may be based on the exchange rate atthe time of the formation of the loan. It may also be based on theexchange rate at the time the player's credit card or other credit lineis charged. In another embodiment, the exchange rate may be adjustablefor the term of the loan. Such adjustments may be based on inflation,actual exchange rates, market forces or other economic indicators or acombination thereof. The exchange rate may be fixed in that the ratedoes not change for the duration of the game or segment of the game.Alternatively, the exchange rate may be pegged to a floating real worldexchange relationship, for example the U.S. dollar/Japanese yen spotexchange rate, a percentage thereof, a plus or minus adjustment thereof,some other economic indicator, or a combination thereof. The exchangerate may also vary depending on the country of origin of the player, ormay be fixed to a particular real world currency, i.e., all exchangerates are quoted in dollars. In another embodiment, the exchange ratemay be floating and determined by market forces such as the relativedemand for virtual currency versus real world currency. Said exchangerates may further be established or determined by any suitable methodincluding, but not limited to, by a) the game manufacturer, b) theowner(s) of the server(s) upon which the game resides, c) one or moreplayer characters, d) market forces, e) negotiation among the affectedparties, f) any combination of the above. The exchange rate may also becomposed of any combination of the above methods. For example, theexchange rate could be fixed for a certain length of time and thenchange to market forces or vice versa. Alternatively, there may be a capon the amount of fluctuation in the exchange rate during the term of theloan.

In the event of a default, the credit cards or other credit lines usedas collateral may be charged according to any of a number of criteriaincluding, but not limited to, charging all of the credit cards used tosecure the virtual loan in equal percentages until the credit line ismaxed out, and then in an equal percentage on the remaining credit linesuntil no credit line is available; in an order designated by the virtualloan agreement, i.e. charge credit card A first up to a fixed amount,then charge credit card B, etc.; or in a ratio specified under the loanagreement.

Other penalties may be imposed if a player does not abide by hisobligations. In an embodiment, the player may be barred from accessingan account, such as his account with social network (e.g., Facebook). Inan embodiment, the player may be barred from accessing an account fromwhich funds or a credit line were used as collateral. In an embodiment,the video game central server may prevent the player from accessing oneor more games or portions of games, or may prevent the player fromreceiving certain functionality in a game.

Alternatively or additionally, the collateral may be a non-financialasset. Such an asset includes any item of economic value including, butnot limited to, a virtual object; a virtual skill or attribute; virtualproperty or business; a real world object or property; a promise toperform certain services, or any combination thereof. In one embodiment,the collateral is the natural resources and/or building materials usedto construct the virtual project. In another embodiment, the collateralmay be a collection of assets held in escrow. In the event of a default,such assets may be sold or otherwise liquidated.

In one embodiment, the bank or other party providing the virtual loanmay desire part ownership in an asset in return for the virtual loan.For example in one embodiment, the virtual loan could be structured sothat it is convertible for a percentage ownership of the virtual item orasset that it was used to purchase or construct (and/or in addition toadditional assets and/or penalties). In this embodiment, the playercharacters that took out the virtual loan or the bank that issued thevirtual loan can convert the virtual loan obligation into a percentageownership of the asset(s) that the virtual loan was used to purchase orcreate. The terms of the conversion could be specified in the virtualloan agreement and the conversion rate may change over time as thevirtual loan balance is reduced.

In another embodiment, the bank or other party may take ownership in thegame environment. Ownership could also be conferred in the issuance ofshares or stock options. Such ownership may include anti-dilutionprovisions, or other provisions designed to protect the stake of thebank or other lending entity. For example, in the event that thepercentage is in stock or stock options, the bank may limit the amountof stock the virtual business may issue such that the percentageownership does not become diluted. In another embodiment, the bank mayreceive a percentage of stock or stock options in the virtual businesswith each issuance of new stock. This decision can be made by the gameserver based on the venture and the player character credit scores orreal world credit line and/or manually. The conversion of the virtualloan to a security or other arrangement may be managed by Loan Convertedto Shares of Asset program 154.

In another embodiment, the bank could obtain possession of the entirevirtual item or asset in the event of a default. The bank could thensell or otherwise dispose of the virtual asset.

In an embodiment, the player loses all his ownership (e.g., in an assetor game environment) unless the player performs one or more actions,such as (i) using a particular service at least a predetermined numberof times, (ii) using a particular service at least a predeterminednumber of minutes, (iii) buying a real or virtual item via a particularservice, (iv) spending at least a predetermined amount of money or othervalue via a particular service, (v) watching advertising, (vi) having atleast a particular number of friends or connections (e.g., in a socialnetwork), (vii) recruit at least a particular number of new friends orconnections (e.g., in a social network), (viii) maintaining a particularstatus with a particular service.

In an embodiment, where the bank or other party can take (full orpartial) ownership in an asset or in a game environment, the amount ofownership that party can take can be reduced in exchange for the playerperforming one or more actions, such as (i) using a particular serviceat least a predetermined number of times, (ii) using a particularservice at least a predetermined number of minutes, (iii) buying a realor virtual item via a particular service, (iv) spending at least apredetermined amount of money or other value via a particular service,(v) watching advertising, (vi) having at least a particular number offriends or connections (e.g., in a social network), (vii) recruit atleast a particular number of new friends or connections (e.g., in asocial network), (viii) maintaining a particular status with aparticular service.

Such information or proceeds may be stored by any means available.According to one embodiment such information is generated through LoanConverted to Shares of Asset program 120 which may be configured toperform some or all of the following steps: 1. Receive a request toconvert all or a portion of an outstanding virtual loan into shares of avirtual asset by a virtual bank server or player character. 2. Retrieveand amend loan obligation. 3. Retrieve and amend ownership structure ofvirtual asset. 4. Notify loan parties and owners of asset that virtualloan has been converted into shares of a virtual asset.

The terms of the virtual loan may include interest. The interest ratemay be fixed in that the rate does not change for the duration of thegame or segment of the game. Alternatively, in another embodiment, theinterest rate is pegged to a floating real world or virtual worldinterest rate, a percentage thereof, or an interest rate plus or minus aparticular sum (i.e. prime+/−2%). An exemplary real world interest ratewould be the three month U.S. treasury bill yield to maturity. Inanother embodiment, the interest rate may be determined by market forcessuch as exchanges in the virtual or real world or other economicindicators. Said interest rates may further be established or determinedby any suitable method including, but not limited to, a) the gamemanufacturer, b) the owner(s) of the server(s) upon which the gameresides, c) one or more player characters, d) market forces, e)negotiation among the affected parties, f) the availability of funds, g)the current or predicted real or virtual credit score of the player, h)the current ratio of bank funds on deposit vs. the total amount ofloans, i) payment performance, j) adherence to loan restrictions orother terms, k) number of initial or subsequent defaults on loans by theplayer character, l) real or virtual credit scores, m) any otherfinancial or other terms as determined by the lender and agreed upon bythe borrower n) by any real world or virtual rule, law or regulation, oro) any combination of the above.

In another embodiment, interest rates may be customized on the basis ofrisk: i.e. reasons for or uses of the proceeds of the virtual loan; thefinancial or business plan underlying the virtual loan; default rate ofthe borrower(s); credit worthiness of the borrower(s); type of virtualinvestment pursued by the borrower(s); portfolio of the bank;outstanding loans of the borrower(s) or the game environment; how muchcurrency the bank has available to lend; costs to the bank for obtainingthe currency; the term of the virtual loan; or any combination thereof.Evaluation of the risk may be determined by a) the game manufacturer, b)the owner(s) of the server(s) upon which the game resides, c) one ormore player characters, d) market forces, e) negotiation among theaffected parties, or f) any combination of these.

In an embodiment, the interest rate charged to a player may be affectedby the player's status, such as the status of the player with a socialnetwork or the status of a player with his mobile phone serviceprovider. In an embodiment, the interest rate charged to a player may beaffected by the player's usage of a service (e.g., a video game, socialnetwork platform, mobile phone, a merchant). For example, the interestrate may be decreased in exchange for (i) using a particular service atleast a predetermined number of times, (ii) using a particular serviceat least a predetermined number of minutes, (iii) buying a real orvirtual item via a particular service, (iv) spending at least apredetermined amount of money or other value via a particular service,(v) watching advertising, (vi) having at least a particular number offriends or connections (e.g., in a social network), (vii) recruit atleast a particular number of new friends or connections (e.g., in asocial network), (viii) maintaining a particular status with aparticular service.

In charging interest, the game or virtual bank server may periodicallydetermine an average balance over a fixed time period, multiply thebalance by the specified interest rate and charge the virtual interestrate to the account. Such compounding time periods may be continuouslyhourly, daily, weekly, monthly, yearly or as determined by a) the gamemanufacturer, b) the owner(s) of the server(s) upon which the gameresides, c) one or more player characters, d) market forces, e)negotiation among the affected parties, f) any real world or virtualrule, law or regulation, or g) any combination thereof.

According to another embodiment, some virtual loans may have priorityover other virtual loans, i.e., if a player character enters bankruptcyor otherwise defaults on any virtual loan, some virtual loans mayrecover from the assets of the player character before those of othervirtual loans. Priority of virtual loans may be established at the timethe virtual loan is secured and/or based upon the date secured, forexample, giving preference to virtual loans secured earlier over thosesecured later. Priority may also be granted based on the type of virtualloan obtained, or the type of underlying assets used to secure thevirtual loan. For example, a virtual loan used to purchase property mayhave priority over a virtual loan used to purchase a disposable asset orvice versa.

In another embodiment, the game environment, including a business mayissue virtual bonds in order to raise capital. A bond is a long termdebt security in which the issuer owes the holders a debt and is obligedto repay the principal and interest (the coupon) at a later date, termedmaturity. A game environment may issue any type of bond found in thereal world as well as types of bonds that are only found in the virtualworld. For example, a game environment may issue bonds such as, but notlimited to, fixed rate bonds, floating rate notes, high yield bonds,zero coupon bonds, convertible bonds, inflation linked bonds, indexedbonds, equity linked notes, asset backed securities, including, but notlimited to mortgage-backed securities, collateralized mortgageobligations, collateralized debt obligations, subordinated bonds,perpetual bonds, bearer bonds, open-end bonds, debentures, mortgagebonds, closed end bonds, equipment trust certificates, and book-entrybonds. Such bonds may be collateralized by real or virtual assets or mayhave no collateral.

In one embodiment, for example in the funding of virtual public works,the residents of a game environment may vote to have a virtual bondissuance. For example, a virtual governing body may output a list ofvirtual public projects for which they are seeking funding. Virtualresidents may vote on the virtual projects they want to fund or arewilling to pay for, and virtual projects which are not selected do notget funded. Such a process could be completed using some or all of thefollowing steps: 1. Output a request for a bond, including a projectdescription and budget. 2. Receive votes on bond. 3. If majority ofvotes favor bond, flag bond and associated project as approved.

An exemplary system 200 configured to provide the virtual environmentdescribed above is shown in FIG. 3. As shown, system 200 may include agame server 202, a bank server 204, and a credit card server 206.

Game server 202 may include a Bond Creation program 212. Game server 202may additionally include one or more databases including Player Database216, Character Database 218, Game Environment Database 220, BondDatabase 224, Utility Database 228, and Utility Conditions Database 230.Bank server 204 may equally be any other financial intermediary serverincluding a contractual savings institution or investment intermediaryserver. Such servers 204 may include a Bond Payment Program 238 anddatabases such as Bond Database 234 and a Utility Fee Database 236.Credit Card Server 206 may include an Account Database program 242.

According to one embodiment, the game server and the bank server may bethe same server and the method steps for creating and managing utilitiesand bonds can be divided between the two. For instance, bond creationcan be the responsibility of the bank server and registration and feescan be managed by the game server or vice versa.

Bond creation program 212 may be used to format and manage a bondissuance. Information regarding virtual bonds may, for example, bestored in Bond Database 224. Player database 216 may include informationsuch as, but not limited to, player ID, the character(s) controlled bythe player, billing information and personal information. Characterdatabase 218 may include information such as, but not limited to,character ID, player ID, assets, skills, obligations, and gameenvironment access. Game environment database 220 may includeinformation such as ownership, debt, assets, outstanding shares,outstanding bonds, government, natural resources, etc.

In one embodiment, bond creation program 212 may assemble an issuancerequest using some or all of the following steps: 1. Receive a groupregistration. 2. Receive a virtual Utility plan blueprint and projecttimeline. 3. Receive a virtual Utility business model, including feesfor using a virtual utility and number of potential player characterusers. 4. Determine a credit card payment method in the event of adividend or bond payment default. 5. Generate a list of virtualresources and services required to complete virtual utility based onblueprint. 6. Generate a virtual cash value for the virtual resourcesand services. 7. Create and store a virtual bond request based on thegroup, blueprint, timeline, business model, credit card payment method,resources, services and cash value. 8. Generate a bond requestregistration fee. 9. Charge fee to group account.

Virtual bonds may be issued with particular terms. Such terms includethe interest or coupon rate, a face amount, a maturity date, andpossible options. The interest or coupon rate may be fixed or variable.In one embodiment, the interest rate is pegged to a floating real worldor virtual world interest rate, a percentage thereof, or an interestrate plus or minus a particular sum (i.e. prime+/−2%). An exemplary realworld interest rate would be the three month U.S. Treasury bill yield tomaturity. In another embodiment, the interest rate may be determined bymarket forces such as exchanges in the virtual or real world or othereconomic indicators. Said interest rates may further be established ordetermined by any suitable method including, but not limited to, a) thegame manufacturer, b) the owner(s) of the server(s) upon which the gameresides, c) one or more player characters, d) market forces, e)negotiation among the affected parties, f) the availability of funds, g)by any real world or virtual rule, law or regulation, or h) anycombination of the above. In another embodiment, the interest rate maybe partially fixed and partially variable. The coupon may be paid to thebond holder at any interval agreed upon at the time the bond is issued.For example, the coupon may be paid monthly, semi-annually or annuallyor on any other schedule.

In one embodiment, the virtual bond may have a nominal, principal orface amount which has to be repaid at the end. In another embodiment, avirtual bond may have an issue price at which investors buy the bondswhen they are first issued. Virtual bonds may also have a maturity dateat which time the issuer must repay the nominal bond. The length of timeuntil maturity may be any length of time or the virtual bond may nevermature.

In one embodiment, the virtual bond may have an embedded option. Forexample, the virtual bond may give the issuer the right to repay thebond before the maturity date (callable bond). In another example, somevirtual bonds may give the bond holder the right to force the issuer torepay the bond before the maturity date. Options may be executed at anytime, or only on specific dates. In one embodiment, the option may be aBermudan callable in which the issuer may repay the bond on severaldates. Such dates may coincide with the coupon dates or may be at othertimes. In another embodiment, the option may be a European callable inwhich there is a single specific date on which the issuer may pay thevirtual bond early. In a further embodiment, the option may be anAmerican callable in which the issuer may pay the virtual bond at anytime until the maturity date. In yet another embodiment, if the issuerdoes not have the cash on hand to repay the bondholders when the virtualbonds mature, it maybe able to issue new virtual bonds and use theproceeds either to redeem the older virtual bonds or to exercise a calloption.

An issuer may decide or be required to retire a certain portion ofoutstanding virtual bonds periodically. Such virtual bonds may berecalled randomly, recalled according to a specific system, or purchasedon the open market. In another embodiment, the virtual bonds may beconvertible in that they may be exchanged for a number of shares of theissuer's common stock. In a further embodiment, the virtual bonds may beexchangeable for shares of a corporation other than that of the issuer.

The issuance of virtual bonds may or may not require registration. Suchregistration may take place with the game owner, game server, or someother governing entity. Registration may require information such as thename of the issuer, the names of the characters or player controlling ormanaging the issuer, affiliates, underwriters, owners, marketingarrangements, financial statements, details regarding the type ofsecurities being offered, the price, commissions, compensation, riskfactors, use of the proceeds of the offering, assets of the gameenvironment, significant milestones, or any other related informationgenerally required in the real world for registration of an offering.Such registration may be stored by any means available, for example inbond database 224. In another embodiment, each virtual issuance may beregistered with a bank which acts as a clearinghouse for the bonds.Information regarding a particular virtual issuance may be stored by anymeans applicable, for example in bond database 234.

In one embodiment, virtual bonds may be brought to market by the issuer,an underwriter or a syndicate. A syndicate is a temporary partnership ofdealers which has been established to underwrite and sell a particularissue of bonds. The issuer may approach the underwriter directly, or anissuer may publish an official notice of sale to solicit bids. Suchpublication may be by electronic mail, regular mail, screen alerts,publication in a journal such as a real or virtual financial journal orany other means calculated to inform potential underwriters that anissuer is seeking to have a bond issuance. In one embodiment, a databasemay be created in which underwriters can indicate that they areinterested in obtaining a bond issuance and issuers can indicate thatthey are seeking a bid. Such a database may be searchable, browsable,and/or may include a matching program that pairs issuers andunderwriters. In one embodiment, an underwriter or syndicate may bid onan issuance.

The virtual bond offering may take place using a Dutch Auction, FirmCommitment, Best Efforts, Bought Deal or Self Distribution of Bonds. Ina Dutch Auction, the auctioneer begins with a high asking price which islowered in increments until some participant is willing to accept theauctioneer's price, or a predetermined reserve price is reached. Thewinning participant pays the last announced price. In Firm Commitment,an underwriter assumes all inventory risk and purchases all securitiesdirectly from the issuer for sale to the public at the price specified.With Best Efforts, the underwriter agrees to use all efforts to sell asmuch of an issue as possible to the public. The underwriter can purchaseonly the amount required to fulfill its client's demand or the entireissue. However, if the underwriter is unable to sell all securities, itis not responsible for any unsold inventory. In one embodiment, theunderwriter has a set time frame for selling the shares. If all of theshares are not sold within the agreed-upon time frame, the issuer mustreturn any funds collected from investors. In a Bought Deal, aninvestment bank negotiates a price with the issuer and purchasessecurities from an issuer before selling them to the public. Theinvestment bank (or underwriter) acts as principal rather than agent andthus actually “goes long” in the security. Once the shares are initiallysold, they may be traded on an exchange or other secondary market. In afurther embodiment, the game environment or the owners of the gameenvironment may self distribute the stock in a direct public offering.Once an underwriter or syndicate has won a bid, the syndicate orunderwriter may sell the bonds.

The selling entity may receive orders for the issued virtual bonds.Orders may be presale orders received before the actual bid issubmitted, group account orders for the group as a whole at the netoffering price, designated orders which specify which syndicate memberswill receive a credit and member takedown orders which are orders frommembers for sale to the members' own customers. Once the virtual bondsare sold on the primary market in the initial offering, they may betraded on a secondary market such as the over the counter bond market.In one embodiment, virtual bonds can be bought in incremental units orpercentage of the whole. For instance, player characters can buy 100 $1bonds or 1% of a $100 bond.

In another embodiment, all or part of an issuance may be purchased usingsome of the following steps: 1. Receive an indication of interest topurchase all or a portion of a bond issuance. 2. Receive a virtual cashpayment. 3. If virtual cash payment fulfills bond, notify group thatbond request has been filled. 4. Issue virtual cash to group based onbusiness plan associated with bond request.

Different virtual bonds may have different priorities, risks andrepayment rates. In one embodiment, a virtual bond offering may includevirtual bonds that are all of the same type. In another embodiment, thevirtual offering may be in tranches or classes. Each tranche may havedifferent ratings, and may or may not be secured by different assets, ormay be unsecured. Subordinated bonds are those that have a lowerpriority than other bonds of the issuer in case of liquidation.

Once a bond is issued, payments may be required. Such payments may bethe notional value, periodic interest payments, or retiring of all or aportion of the issuance. In one embodiment, payments may be made usingBond Payment Program 238. Such a program may use some or all of thefollowing steps: 1. Determine that a virtual bond payment is due. 2.Withdraw virtual cash amount equal to bond payment amount from issueraccount; and 3. Transmit bond payment to bond holders based on ownershipstructure and conditions Or 4. If virtual issuer cannot make bondpayment, retrieve character accounts associated with group whoregistered virtual issuance, including credit card information. 5.Determine a real cash value for the virtual bond payment amount. 6.Determine a credit card charge method based on method specified bygroup. 7. Charge credit card(s) based on charge method until real cashvalue for the virtual bond payment amount has been collected. 8. Convertreal cash to virtual cash and transmit bond payment to bond holdersbased on ownership structure.

A virtual bond issuance may take place using any means applicable andfor any reason for which funding may be sought. For example, accordingto one embodiment, a game environment such as a city/corporation (orother group type such as guild, etc.) may seek to raise funds using avirtual bond issuance. Information regarding the city/corporation may bestored by any means possible, for example in Game Environment Database220 and may include data such as: 1. Group ID 2. Character Members 1-n3. Group Assets and Attributes

A city/corporation may own, or have within the game environment avirtual utility such as water, gas, electricity, etc. or some otherpublic work. The virtual Utility may be privately held or owned by thegame environment. Such information may be stored by any meansapplicable, for example in Utility Database 228 and may include datasuch as: 1. Utility ID 2. Group ID(s) 3. Usage Conditions 4. Blueprint5. Component(s) 6. Owners (s) 7. Ownership Percentage 8. ObligationsInformation regarding the virtual utility, its use, status,availability, capacity, or any other necessary information may be storedin Utility Conditions Database 230 and may include data such as: 1.Condition ID. 2. Condition Descriptor. 3. Utility types 1-n. Thecity/corporation may seek to upgrade the virtual utility or create anadditional virtual utility through a virtual bond issuance. The issuancemay be voted on and approved by the residents of the game environment. Avirtual bond issuance may then be created and information regarding thebond issuance stored in bond database 234. Such information may include,for example, 1. Bond ID. 2. Bond Creation Date. 3. Bond Amount. 4. GroupID. 5. City/Corporation ID. 6. Utility ID. 7. Bond Amount. 8. BondConditions. 9. Bond Payment Schedule. Information regarding previousissuances by the same or different game environments, or for the same ordifferent projects may be stored, for example in bond database 224. Suchinformation could include, for example, 1. Bank ID 2. Utility ID 3.Group ID 4. Bond Conditions 5. Bond Creation Date 6. Bond CreationSchedule Charges for the use of the virtual utility, including use bythose who did not contribute to the funding of the construction of thevirtual utility may be stored in Utility Fee Database 236 may includedata such as: 1. Utility Fee ID 2. Utility Fee Descriptor.

Instead of obtaining a loan, issuing bonds, or imposing taxes or fees, agame environment, including an in-game or virtual business, may seekdirect investment, for example through a venture capitalist, angelinvestor, hedge funds, leveraged buyout and merchant banking funds or apublic offering. A game environment, including an in-game or virtualbusiness, may approach a venture capitalist, angel investor, or hedgefund; venture capitalists, angel investors and hedge funds may seek outvirtual investment opportunities; or a database may be created listingvirtual investment opportunities and/or possible investors. Such adatabase may be searchable, browsable, or may provide a matching programbased on criteria selected by the investors and or game environmentsseeking investors. Throughout this application, any such directinvestment funding sources are referred to as “venture capitalist funds”or “VC funds” though the methods and steps may similarly apply to othersources of funding such as angel investors, hedge funds, merchantbanking funds or other investors.

An exemplary system 300 configured to provide the virtual environmentdescribed above is shown in FIG. 4. As shown, system 300 may include agame server 302, a venture capital server 304, and a credit card server306.

Game server 302 may include a register VC program 308, manage VC program310, register VC investment program 312, manage VC investment program314, Debit Card Issuance Program 319, Debit Card Usage Program 320,Credit Card Issuance Program 328 and Credit Card Usage Program 329. Gameserver 302 may further have one or more databases, such as, but notlimited to, player database 316, player character database 318, VCdatabase 320, Credit Card Database 324, and Debit Card Database 326. VCserver 304 may include programs such as initiate VC Investment Program330, Receive Dividend Program 332, Receive Proceeds from Sale of AssetsProgram 334, Initiate Sale of Assets Program 336, Fund Usage Program 339and may include databases such as VC Agreements Database 338, Debit CardDatabase 335, and Credit Card Database 337. Credit card server 306 mayinclude programs such as a lock credit line program 340, a ping creditline program 342 and an account database program 344.

Virtual venture capital funds may be in existence at the time offormation of the game. For example, in an embodiment the video game mayinclude (e.g., designed into the software of the video game) one or moreVC funds which are operated by a human (e.g., by an employee of the gamecompany) or which are operated entirely by software (e.g., such thatfunding decisions are made by the software without human input, or withmodest amounts of human input). Virtual venture capital funds may becreated by one or more players, characters, or game environments. A VCfund can be a player or a plurality of players, and membership in the VCfund may be variable (e.g., new members may be added). A virtual venturecapital fund may be any form permitted by the game server, game owner,or other governing entity of the game or game environment. In oneembodiment, a virtual venture capital fund may be a partnership, aprivate corporation organized as a limited partnership, a company taxedas a partnership such as an LLC, or any such similar organization asregulated by the game owner, game server and/or game environment. Inanother embodiment, there may be a general partner that may include thevirtual fund's management company and investors which may be limitedpartners in the fund. Information regarding the characters involved inrunning and investing the venture capital fund may be stored, forexample, in player character database 318. Information regarding theplayers controlling the characters involved in the venture capital fundmay be recorded by any means applicable. In one embodiment, suchinformation is stored in VC database 322 and/or player database 316. Ina further embodiment, a bank or other financial intermediary may act asa VC fund, investing in game environments rather than providing loans.In another embodiment, there may be limitations on the number of virtualventure capital funds a character can participate in either as part ofthe management team, or an investor. Such a determination could be basedon factors such as the monthly fee the player pays to play the game,i.e. if the player has a premium account; the age of the account; theskill level of the character and/or the virtual or real net worth of theplayer or player character. In a further embodiment, a bank or otherfinancial intermediary may act as a VC fund, investing in gameenvironments rather than providing loans. In another embodiment, a gameenvironment such as a city may act as a VC fund, investing in internaldevelopment projects or business ventures or projects and businessventures in other game environments.

According to some embodiments, the game environment, a particulargovernment, or a virtual land area governed by the game environment orby player characters may limit the number of virtual VC funds that canexist in the environment, or the number of particular types ofinvestment funds that can exist in a particular game environment.Accordingly, there may be a licensing requirement and/or a limit on thenumber of licenses that are available at any particular time in avirtual environment. In some embodiments, if a virtual VC fund closes orbecomes inoperable, the license may be forfeited and may revert to thegoverning entity such that it is available to a new entity desirous ofstarting a virtual VC fund, or it may be sold by the player character(s)that own it. The game server and any government formed by the gameserver or by a group of player characters may charge a tax or fee eachtime a license is issued or resold. Such fees could be up front,periodic, or any combination thereof. There may also be different typesof virtual licenses which may have different limitations imposed uponthem regarding the amount, type, and quantity of investments that can bemade by a particular virtual VC fund.

The granting of a virtual license or the ability to open a virtual VCfund, if required, may be governed by certain regulations. Suchregulations may be imposed by a governing entity, by a centralinstitution, by the game server, game owner, server owner, or group ofmanaging players. These regulations may impose certain requirements thatmust be met prior to the formation of a virtual VC fund. Suchrequirements may include, for example, the ability to pay a given fee,reserve requirements, availability of land and/or an appropriatebuilding or other assets in the virtual environment, procurement ofvarious suitable skills by the requesting group, particularorganizational requirements, funding requirements, etc. In such a case,only those requests that come from an entity that is able to fulfill anyimposed requirements will be granted a virtual license, if one isavailable.

The amount of the virtual license fee may be determined using any methodsuitable for the virtual environment. It may be established by the gameitself, the owners or manufactures of the game, the game server, theowners of the server, a plurality of a predetermined number of playersin existence at the time of the creation or acceptance of the license,by real and/or virtual law, or any combination thereof.

In another embodiment, a VC fund may need to be registered with the gameserver or other governing entity. Such registration may be independentof or in conjunction with a licensing requirement. Registration of avirtual VC fund and payment of a virtual license fee may beaccomplished, for example, using Register VC program 308 which may usesome or all of the following steps:

1. Receive a request to register a virtual Venture Capital fundincluding the VC owners, VC assets, VC location, and VC accounts.

2. Determine if a license is available for the VC.

3. If a license is available determine a permit price.

4. Output license price.

5. Receive acceptance of license price.

6. Create VC fund.

7. Output notice that fund is created.

8. Charge VC fund account the license price.

The management structure and running of a virtual venture capital fundmay be ad hoc or may be dictated by organizational documents.Organizational documents may include such information as the time fixedfor the fund's existence, an outline virtual investment decision-making,details regarding the involvement of the limited partners, descriptionsof percentage ownership, guaranteed dividends, profit distribution, theability to dissolve the partnership, the maximum virtual investmentallowed in any single game environment, the use of virtual debt,re-investment of virtual profits, private investment by the generalpartner, future raising of capital by the general partner, virtualinvestments with other funds, the addition of other general partners,management fees, exit strategies for the funds investments or any othertype of information generally found in such documents. In oneembodiment, a virtual venture capital fund may be run by the gameserver(s). In another embodiment, a virtual venture capital fund may berun by a financial intermediary.

Enforcement of the organizational documents may be accomplished by anymeans necessary, for example using manage VC program 310. Informationregarding the organizational documents may also be stored in a databasesuch as a VC governance rules database which may include informationsuch as the specific rule ID and a description of the rules for runningthe virtual VC fund.

Programs such as manage VC program 310 could execute the regulations ofthe organizational documents, pay any fees, update licenses, andotherwise manage the financial activities of the virtual VC fund. Forexample, manage VC program 310 could be configured to: 1. Determine thata VC must pay a license fee. 2. Output a notice to player characterowners of VC that a license fee is due. If payment is not received, thegame server or other governing entity may suspend the activity of thevirtual venture capital fund.

Funding for virtual venture capital funds may come from any sourceapplicable. In one embodiment, virtual venture capital funds may befunded upon creation by the game or game server. In another embodiment,virtual venture capital funds may be funded by characters, players,and/or game environments. In a further embodiment, a fund may seekfunding from interested players, characters, game environments, or otherthird parties. Funding may be in real or virtual currency and/or realand/or virtual assets. Investors may be required to guarantee theirfunding using a credit line or some other source of collateral.

In one embodiment, a virtual venture capital fund may be formed asoutlined in FIG. 6 in which a group of characters, institutions or gameenvironments forms a management team to run a fund. The management teammay consist of one or more characters. The management team draftsorganizational documents describing the running of the fund and appliesfor registration of the fund. In one embodiment, members of managementteams may need to meet certain criteria in order to run a fund. Forexample, they need to have certain types of accounts such as premiumaccounts, certain skills, a particular asset base, a particular level ofexperience, or any other criteria deemed necessary by the requirementsof the game. Once the game server or other overseeing entity hasverified that the management team is qualified, the game server or otheroverseeing entity may verify the organizational documents to determinethat they fulfill the necessary requirements. In the embodiment in FIG.6, the organizational documents are reviewed for management structuresuch as the involvement of the limited partners, or what type oforganization the fund will be; the length of time the fund will be inexistence; and the investment strategy of the fund. The parameters ofthe game may require some or all of these aspects as well as additionalaspects be described in the organizational documents such as the othertype of information described above. If the management team and theorganizational documents meet the necessary standards, the fund will beregistered with the game and may solicit investors. In alternateembodiments, investors may come together to form a fund so that thesource of the funding is available prior to the formation of themanagement team.

According to one embodiment, game server 302 may be configured to createa virtual venture capital fund using some or all of the following methodsteps: 1. Receive a request from a player character, group of playercharacters, game environment, or one or more third parties to create aventure capital fund. 2. Review organizational documents. 3. Determinethat organizational documents meet necessary criteria. 4. Create newventure capital fund with the requestors as owners.

The request to form a virtual VC fund may be made and received using anysuitable method within the virtual environment. For example, the requestmay be sent via email, instant message, or via an on-screen requestsystem. The request may be processed automatically by the server, by apaid or voluntary player or staff member, or though a combination of theabove.

Information regarding the formation of a virtual venture capital fundmay be stored by any means desired, for example on Venture CapitalDatabase 322 and may comprise information such as, for example: 1. VC IDnumber 2. Owner ID numbers 1-n 3. Owner Percentages 1-n 4. ShareholderPercentages 1-n 5. Manager 1-n 6. Funding requirements 1-n 7. FinancialBacking Accounts 1-n

In a further embodiment, game server 302 may create a link betweenventure capital funds. Such a link may be used to form a network ofrelated or co-owned institutions, to form a financial network tofacilitate the transfer of funds between institutions, to link real andvirtual financial accounts, to exert control by a central institution,any other reason for linking venture capital funds, or a combinationthereof.

Once a virtual venture capital fund is in existence, whether formed bythe game, by the owners of the server, or formed by players or playercharacters or otherwise, the fund may seek out or receive virtualinvestment opportunities. The acquisition of virtual investmentopportunities may be accomplished by any means applicable. In oneembodiment, such virtual investment opportunities are located usinginitiate VC investment program 330. In another embodiment, characters,game environments, players, or other entities may apply to a VC fund forfunding. In yet another embodiment, members of a VC fund may proposeinvestment opportunities to the fund. The virtual investments of avirtual VC fund including the type, quantity and amount, may be limitedby their license, the rules of the game environment, the total virtualassets of a game environment, or any combination thereof.

In one embodiment, a virtual VC fund may need to register an investmentwith a governing body who may determine whether such an investment fallswithin the virtual license the virtual VC fund has obtained.

In another embodiment, the requirements of investment opportunities maybe outlined in the organizational documents of the virtual venturecapital fund. In one embodiment, a virtual venture capital fund mayrequire an entity seeking investment to present a business plan. Such aplan may include information including, but not limited to, the marketopportunity; products and services; the business model; the players orcharacters involved; the financials of the game environment includinghow much funding they are seeking; a positioning statement; operatingexpenses; revenues; earnings as well as any other financial informationgenerally included in a business plan; prior sources of funding and usesof proceeds; exit strategy; dilution strategy including, but not limitedto, current ownership interest, stock options, financings, convertiblenotes, warrants, common stock, and convertible preferred stock; assets;research on competitors; strategic alliances; milestones; market andcustomer research.

In a further embodiment, a valuation may be made of the game environmentprior to investment by a virtual VC fund. The valuation may be requestedand/or made by the virtual VC fund, the game environment seekingfunding, or both. The value of game environments may be assessed bymeasuring any of a number of parameters including, but not limited to,the growth of the economy, the value of its natural resources, theamount of investment that is being made, the number of charactersworking or inhabiting the game environment, the amount of developmentthat is taking place, the amount of land available for development, theamount of trade, the stability of the economy, taxes, cash flow, theassets of the inhabitants, the standard of living of the characters, theimports and exports into the economy, assets of the game environment,products sold by the game environment, services provided by the gameenvironment, any other factor that is generally used to value an economyor any combination of the above.

In one embodiment, the value of a game environment is calculatedaccording to the following equation: consumption+investment+governmentspending+(exports−imports). In another embodiment, the value of a gameenvironment is determined by the final value of the goods and servicesproduced by the resident characters in a given time frame. In a furtherembodiment, the value is determined by the market value of the goods andservices produced by the resident characters minus the depreciation in agiven time period. In yet another embodiment, the value may becalculated by: consumption+investment+governmentspending+(exports−imports)+net foreign factor income—indirecttaxes—depreciation. In yet another embodiment, the value of the assetsin a game environment may be assessed. Assets may be valued according totheir market value, on a multiple of the underlying natural resourcethat can be salvaged from the asset, by a professional estimator whetherreal or virtual, by an investment bank or any other applicable valuationmethod or combination thereof. In a further embodiment, valuation may bedetermined by tax revenue or fees generated by the game environment. Inanother embodiment, cash flow from transactions in the game environmentcould be calculated. In one embodiment, earnings in the environment overa set period of time could be multiplied by a factor to arrive at avaluation. In another embodiment, valuation may be based on a listing ofassets, liabilities and equity of the game environment. In a furtherembodiment, valuation could be determined by measuring cash distributionto owners using a discounted future dividend approach. In yet anotherembodiment, valuation could be determined using a discounted cash flowand discounted future net income approach. In still another embodiment,valuation could be determined using a market approach by comparing thegame environment to similar game environments.

Valuations may also rely on conversion rates, factors or tables whichmay convert all assets to a common unit. Conversion rates may bedetermined by any means applicable. They may be fixed, on an automatedtrading system, or as determined by an exchange on the open market orany combination thereof. For example, conversion rates may be based on acomparison of the economies of two game environments, a comparison of arepresentative basket of goods, the number of player characters in eachenvironment, the amount of a particular virtual asset available in aparticular game environment, the amount of production of a virtual assetin the game environments or on any other number of market forces orcomparable factors. For example, a gallon of oil may be converted to twogallons of oil when traded from WarCraft to Second Life. In anotherembodiment, a barrel of oil may be converted into 1000 thistle seedswithin a game environment, and/or a barrel of oil may be converted to5000 thistle seeds when exchanged between two games. 5000 thistle seedsmay be worth 3 shares of stock in a particular game environment. In afurther embodiment, a conversion multiplier may reflect the differencein the labor (and/or other factors) required to build the game attributein the first environment vs. the second environment. For example, 1000thistle seeds in one game environment may be worth 700 thistle seeds inanother game environment. Alternatively or additionally, the multipliermay take into account any differences in supply, availability, ease orcost of acquisition, or the like, of the resources and/or the prevailingexchange rates of real or virtual currency. Some game environments maybe configured to produce items more optimally. These game environmentsmay receive a premium valuation in that their labor is more efficient inthat game environment than on other game servers. Alternatively,environments that produce such items more optimally may be penalized ora tariff may be imposed to create a more fair exchange between or amongsuch game environments.

In one embodiment, some or all of the following steps may be used toconvert assets between game environments: 1. Generate a conversion valuefor two or more game environments based on activity and conditions inthe game environments. 2. Create a conversion multiplier based on therelationship of the values between two or more game environments. 3.Store multiplier.

Analysis of investment opportunities and the information provided bygame environments seeking funding may be processed by any meansapplicable. For example, initiate VC investment program 330 may be usedto review applications for funding. Such a process may use some or allof the following steps:

1. Receive a request to fund a virtual project from one or more playercharacters including a virtual project plan, virtual blueprint, avirtual cash budget, and amount of virtual cash necessary to completethe project.

2. Determine a project value based on the project request and the creditscores of the player characters.

3. Determine an ownership investment structure based on the value, andthe credit scores of the player characters.

4. Output an investment offer, including an ownership percentage, arequired dividend schedule, an investment payment schedule and otherterms and conditions to the player characters.

5. Receive an acceptance of the offer.

6. Create a new virtual project including a virtual account and transferappropriate virtual cash into project account.

7. Register agreement with Game Server.

In another embodiment, an investment decision may be put to a vote(polling the members) among one or more members, or among all members.In an embodiment a proposal or request may be required to obtainfunding. An entity seeking funding may submit a request or otherproposal whether written, pictorial or verbal and each proposal may beevaluated and put to a vote by the venture capital firm. In oneembodiment, there may be certain minimum criteria which are required tobe met before a proposal can be put to a vote. For example, theopportunity must be in a certain field, may need to be of a certainsize, generate a particular rate of return, accomplish a particulargoal, be in a particular game environment, or any other criteria theventure capital fund establishes. Such criteria may be evaluated by themembers of the virtual venture capital fund or by a program, such as forexample initiate VC investment program 330. In another embodiment, everyproposal submitted must be put to a vote.

The decision to accept or decline an investment may be decided by anytype of voting system. Such a voting system may be described in theorganizational documents, may be dictated by the game, or decided bysome other overseeing authority. It may be, for example, a single votesystem, a multiple-round vote system, a multiple vote system, a rankedvote system, a scored vote system or any variation thereof.

In one embodiment, the voting system is a single vote system, in whicheach member may cast one vote (e.g., using a video game console). In afurther embodiment, the voting system may be a multiple-round system.For example ten proposals are put to vote. In the next round the threeproposals which received the most votes are voted on again. In thefollowing round, the two proposals which received the most votes of thethree are voted on again and the winning proposal is selected forinvestment purposes. In another embodiment, investment decisions may bemade using a multiple vote system in which each member may cast as manyvotes as there are investment opportunities, and may cast one vote foreach opportunity or may cast all votes for a single opportunity or anymultiple thereof. The number of votes each person may cast may bedetermined by the number of proposals, or according to a weightingsystem as described below. For example, the managing partner may begiven twice as many votes as there are proposals. In a furtherembodiment, each member may be required to rank investment opportunitiesin order of preference. In yet another embodiment, each member may scorea proposal with a number in a particular range, for example 1-10, thoughany range may be used. The scores are then totaled and the proposal withthe highest score(s) is funded.

Each member of the venture capital firm may be entitled to an equalnumber of votes, or the number or value of votes may be weighteddepending on a variety of factors, including but not limited to,seniority, skills, position in the venture capital fund, personalinvestment in the venture capital fund, length of time a character hasbeen in existence, type of account held by player, the amount of fundingthey were able to secure for the venture capital fund, or any othercriteria as described in the organizational documents, determined by thegame, or other overseeing authority. For example, in one embodiment, thevotes of members of the management team may be more heavily weightedthan votes of other members of the venture capital fund. In anotherembodiment, some or all members of a venture capital firm may be able toveto an investment decision. For example, the managing director may berequired to give approval for all investment decisions. In a furtherembodiment, the managing members of an entity acting as a venturecapital fund may have more heavily weighted votes or may have vetopower. For example, if a bank or other financial entity is acting as aventure capital fund, the votes of the owners of the bank may count moreheavily than the votes of those that work at the bank. If a city isacting as a venture capital fund, the vote of the elected officials orother ruling entity may be more heavily weighted than the vote of anon-ruling resident.

In order to be funded, a proposal for investment may be required toobtain a simple majority, the highest score, a supermajority, aunanimous decision, or slightly less than a unanimous decision such asunanimity minus one, unanimity minus two, etc.

In another embodiment, investment decisions may be made by consensus. Ina further embodiment, each member of the venture capital fund or eachmember of the management team may have the ability to approve aninvestment up to a particular monetary amount without submitting it tothe rest of the fund for a vote. The terms for determining approval ofan investment decision may be outlined, for example, in theorganizational documents.

If a virtual venture capital firm decides to make a virtual investment,it may or may not prepare a term sheet or letter of intent. In oneembodiment, a game environment may be required to present a term sheetor letter of intent to the virtual venture capital fund. Such termsheets may provide information related to funding including, but notlimited to, valuation, the amount and staging of the investment, thetype of securities issued, protection from dilution, and theability/right to seek alternative funding; corporate governanceincluding, but not limited to, decision making powers, the compositionof the board of directors or other governing entity, voting rights,revisions to the by-laws or other governing documents and informationrights; and liquidation, including, but not limited to how the venturecapital fund will get their money out of the business, the exitstrategy, redemption rights, registration rights, and participationrights. Term sheets may be generated by any means applicable. In oneembodiment, such term sheets are generated by manage VC investmentprogram 314. Final versions may be stored in VC agreements database 338which may additionally include information such as agreement ID;agreement Parties 1-n; party type; and agreement terms and conditions.Each investment made by a virtual venture capital fund may be registeredusing register VC investment program 312. In another embodiment, termsheets are binding in that every activity of the funded entity mustcomply with the requirements listed in the term sheet or it will beblocked.

In another embodiment, an entity may engage in white collar crime inorder to circumvent various requirements. Entities that engage in whitecollar crime may gain experience points or skills in committing thesetypes of crimes. For example, it may be possible to circumvent the termsheet. The circumvention may take place using particular skills orattributes, for example, a high level of the “feather bedding” skill orsimilar skill such as “pay bribe” or “cook the books” could allow afunded entity to make cushion payments outside of the contract rules, orto pay bribes. According to this embodiment, entities who achieve acertain amount of points or skill levels in a given white collar crimemay be allowed to ignore, bypass, break, or otherwise not obey some orall of the rules in the game. The rules that these entities may breakmay or may not be dependant upon the types of white collar crime inwhich the entity has previously engaged.

Once an investment decision is made, investments may need to beregistered. Such registration may take place using any means applicable.In one embodiment, registration of an investment may use any register VCinvestment program 312. Register VC investment program 312 may use someor all of the following steps. 1. Receive a term sheet from a VC to fundan investment. 2. Determine if the investment qualifies based on VClicenses and investment type. 3. Approve investment and registerinvestment.

In another embodiment, the term sheet may require review beforeregistration may be approved. Initiate VC Investment program 330 may beconfigured to use some or all of the following steps: 1. Receive arequest to fund a virtual project from one or more player characters 2.Determine an ownership investment structure for the project 3. Outputinvestment structure to player characters 4. Receive acceptance ofstructure 5. Transmit virtual project and ownership investment structureto Game Server 6. If structure is accepted, a. receive registrationnumber b. notify player character's the project was accepted c. transmitvirtual money for project to project account d. transmit virtual cashfee to game server to register complete project registration 7. ifstructure is not accepted a. receive notice of why structure was notaccepted, including changes required to make it acceptable from the gameserver b. revise structure according to change requests c. transmitrevised structure to player characters d. Receive acceptance of revisedstructure e. Transmit revised structure to game server for approval 8.receive registration number. 9. notify player character's the projectwas accepted. 10. transmit virtual money for project to project account.11. transmit virtual cash fee to game server to register completeproject registration.

The term sheet may also include the type of security that is beingprovided to the venture capital fund in exchange for the investment.Such security may be debt or equity. In one embodiment, such a securitymay be convertible preferred stock. There may also be dividends to bepaid. Such dividends may begin accruing immediately once funding starts.They may accrue on the entire investment, or just the stage ofinvestment reached at that point. Dividends may also be converted intostock if the company is sold or has a public offering.

An agreement with a virtual venture capital fund may also include ananti-dilution provision. In one embodiment, the percentage ownershipwill always remain the same as when the initial investment was made. Inanother embodiment, there may be a conversion formula adjustmentattached to convertible preferred stock, convertible debt or debt withwarrants obtained by the virtual venture capital fund. The formulaadjustment may be “full ratchet” in which if the company issues even oneshare of stock at a price below the price paid by the investors, thenthe conversion price drops fully to that price. In another embodiment,the formula adjustment may be a “weighted average ratchet” in which theconversion price is adjusted to the average price received by thecompany for stock issuances. This average may or may not take intoaccount the amount of money raised at different prices.

A virtual venture capital fund may also seek control over gameenvironment governance issues. For example, they may seek control oversuch things including, but not limited to, the calling of elections, theselection and removal of the CEO, or other titular head of the gameenvironment, compensation of the managers of the game environment, boardmembership, or other executive membership, political appointments,voting rights, raising the debt ceiling, selling assets above a giventhreshold, issuing additional stock, changing the rights and structureof the classes of stock, stock options, acquisitions, sales and mergers.

In another embodiment, the venture capital fund may seek such things asredemption rights, registration rights, drag-along rights, tag-alongrights, and participation rights. In one embodiment, the venture capitalfund may acquire the right to sell the game environment or take itpublic. In another embodiment, the venture capital fund may require thegame environment to purchase the virtual venture company's stock after acertain period of time, or upon the occurrence or nonoccurrence ofcertain milestones.

Once terms are agreed to, investment by a venture capital fund may takeplace in a single lump sum or in stages. In one embodiment, each stageof investment may be contingent on the meeting of certain conditions ormilestones. In another environment, a venture capital fund may requirethat additional funds or other income sources be brought in at certainstages.

According to one embodiment, an account may be created with a financialentity, or with the VC fund that contains the funding. Virtual invoicesmay be submitted, reviewed and verified before payments are released.Such funds may be used to make qualified purchases as outlined above, orto hire virtual architects, craftsmen, designers, or characters withother skill sets important in the development of the project for whichfunding was sought. For example funds could be released using some orall of the following steps: 1. Receive a request to pay a virtualinvoice. 2. Determine if the invoice is from a qualified virtual entity.3. Determine if virtual build contract has budget allocated for theinvoiced product or service. 4. Release funds to pay the invoice if theinvoice is qualified for payment. In another embodiment, determinationscould be made regarding how the virtual invoice fills the allocations inthe budget for particular tasks or types of assets. For example, paymentof the virtual invoice could be made using some or all of the followingsteps: 1. Receive a request to pay a virtual invoice. 2. Determinevirtual cash budgeted for invoiced item or service. 3. If virtual cashbudgeted is less than invoice by x %, flag account. 4. Transmit warningto VC fund and/or funded entity administrator that invoice is out ofbudget.

According to another embodiment, the funding from the VC may be issuedas a virtual debit card. The use of the card may be limited to purchasesthat are specified in the term sheet or other agreements between the VCfund and the borrowing entity. Player characters and game environmentscan give these debit cards to other player characters or gameenvironments who can use the outstanding or remaining balance on themfor virtual purchases specified when the debit card was created. Debitcards can be given to a first player character when a second playercharacter relies on the first player character to purchase something forhim, but cannot trust the player character with virtual cash that hasunrestricted purchase parameters. Debit cards can be used to create ingame payment vehicles that can only be used to purchase certain virtualassets and/or services. Debit cards can also be created that have accessto specified amounts of funds. Such amounts may be a percentage of thecash available in the funding round or may be a fixed amount or acombination thereof such that there is a minimum or maximum percentageof available assets that can be used or minimum fixed amount and apercentage that is available.

Information regarding the virtual debit card may be stored by any meansapplicable. In one example, such information is stored on game server302. In another embodiment such information is stored on bank server304.

A Debit Card Database 326 or 335 may comprise information such as: 1. VCID 2. Debit Card ID 3. Debit Card Amount by category 1-n 4. Debit CardIssue Date 5. Debit Card Conditions 1-n

In another embodiment, information regarding the virtual debit card maybe stored on game server 302 through Debit Card Issuance program 319which may be configured to: 1. Receive an indication that a debit cardwas issued from a VC fund including player character info, VC info,debit card amount and conditions 2. Create and store debit card record

According to another embodiment, percentages of the virtual debit cardvalue can be allocated to different virtual asset classes. For instance,50% of the value could be used to buy specific raw materials and 40%could be used to purchase services from specific NPCs and playercharacters to turn those raw materials into a specific product. Theremaining 10% of the value could be used for anything, but, for example,only when the other 90% has been spent to create the specific productand that product has been deposited into the virtual debit card issuer'saccount. The specific virtual asset classes or services may be outlinedin the term sheets or determined by a) the VC fund, b) the gamemanufacturer, c) the owner(s) of the server(s) upon which the gameresides, d) one or more player characters or e) any combination thereof.

Information regarding the issuance of the virtual debit card may bestored according to any means applicable. In one embodiment, Debit CardIssuance program 319 may be configured to follow one or all of thefollowing steps: 1. Receive a request to create a debit card including avirtual cash amount, a specified receiver of the card, and conditions(if any) for spending the virtual cash from one or more playercharacters. 2. Create debit card including usage conditions (if any). 3.Transfer cash from player character(s) account(s) to debit card. 4.Output debit card to specified receiver. 5. Notify player character(s)and game server that debit card was created and issued. 6. Update debitcard database.

Information regarding the allocations and usage of the virtual debitcard may stored according to any means applicable. In one embodiment,such information may be stored on Debit Card Usage program 320 on thebank server which may be configured to follow some or all of thefollowing steps: 1. Receive an indication that the purchase of a virtualitem or service will be paid for with a virtual debit card. 2. Determineif purchase qualifies based on debit card conditions (if any). 3. Ifpurchase is qualified, allow purchase and deduct virtual cash from theaccount balance. 4. If purchase is not qualified, disallow purchase. 5.Notify bank that purchase was attempted and made.

In another embodiment, Debit Card usage information may be stored on thegame server and Debit Card Usage Program 320 may be configured to: 1.Receive request to use debit card from a player character to purchase anin game good or service or to pay a debt. 2. Determine if use fallswithin debit card condition parameters (if any) 3. Allow use ifcondition parameters allow it 4. Don't allow use if it falls outside ofcondition parameters 5. Notify player character using debit card, playercharacter(s) who created debit card, and game server if debit card wasused or not allowed to be used. 6. Update remaining cash balance Suchlimitations could also be imposed using, for example, Fund Usage Program339.

Funding may additionally be issued in the form of a virtual credit cardin which the character, group of characters or virtual environment maymake purchases up to the amount of the funding provided by the VC fundusing the virtual credit card or may give the virtual credit card toanother party to make the purchases. Such credit cards may be issued,for example, using Credit Card Issuance Program 328. The VC fund maylimit the use of the credit card to purchases in support of the termsheet, or reason for obtaining the funding, or may allow any purchasesto be made. The credit on the credit card may additionally be allocatedto different virtual asset classes as described above for virtual debitcards. Such information may be stored by any means applicable, forexample in Credit Card Database 324 or 337. In one embodiment, thecredit line on the credit card may be increased at additional stages offunding.

In another embodiment, funding may only be used with certified vendors.Such a system 500 is exemplified in FIG. 7. System 500 may include agame server 502, a VC fund server 504, and a bank server 506.

Game server 502 may include a register project program 508, and a manageproject program 510. Game server 502 may additionally have one or moredatabases, such as, but not limited to, a character database 512, playerdatabase 514, and a skills database 516. Venture capital server 504 mayinclude a manage investment program 520, Fund allocation program 522,payment program 524, invoice verification program 526, certified workerdatabase 528, and invoice database 529. Bank server 506 may include anaccount database 530.

Each funded project may be registered using register project program 508which could include information such as the fund source for the project,timelines, blueprints, ownership, resource allocation, or any otherdetails descriptive of the project. The project could be managed usingmanage project program 510. Such management may include oversight ofbudgeting, funding, construction, workers, resource allocation anddeadlines. Information regarding characters involved in the project suchas their identification, assets, responsibilities, and skills may bestored in character database 512. Player database 514 may containinformation regarding the players behind the characters and include theplayers, identification of the players, billing information, andcharacter information. The types of skills available in a particulargame environment or a particular area of a game environment and thenumber, or names of characters with those skills could be stored inskills database 516.

Virtual venture capital funds may be managed using manage investmentprogram 520. Such a program could manage selection of investments,control of investments, track payments, funding, dividends, budgets,invoices, timelines, deadlines, milestones or any other informationnecessary to adequately manage the portfolio and projects funded by theventure capital fund. Each investment funded could have fundingallocated to specific pieces, for example 30% to natural resources; 15%to design; 40% to labor costs; 10% to management; 5% to taxes, fees andlicenses. Such allocations may be controlled and/or determined usingFund allocation program 522. Payments in each of the allocatedcategories could be made using payment program 524. In one embodiment,payment program 524 will only release funds once the object the fundingis paying for is completed. In another embodiment, payment may bereleased in stages, for example 10% upon initiation of the project, 25%when the project reaches a certain point and the remainder released uponcompletion. Vendors and service providers may be required to submitinvoices which could be verified using invoice verification program 520and a history of payments, or submitted invoices may be stored usinginvoice database 529. Certain skill sets may be required in order towork on the project, or only certified workers may be allowed to work ona project. Information regarding the necessary skills and/or a list ofcertified workers and their available skills may be stored in certifiedworker database 528. Payment of the workers and of the supplies could bemade into different accounts owned by characters, suppliers, gameenvironments, or accounts established for the project or the VC fund.Such information may be stored in account DB 530.

If a project runs over budget or behind schedule, warnings may be issuedto the game environment or the VC fund. Such warnings may result in feesbeing charged to the virtual contractors, or the game environment orother entity that received the funding from the VC fund. In oneembodiment, fees could be charged to the accounts of the charactersresponsible. In another embodiment, the fees could be charged to thefunding account resulting in fewer funds available for completing theproject. The VC fund may also halt or withdraw funding. For example,such warnings could be issued using one or more of the followingsteps: 1. receive warning that project is over budget or behindschedule. 2. output warning to VC fund 3. determine or receive fee. 4.charge fee to project account, or project manager character accounts. Ina yet another embodiment, the terms of the funding could be renegotiatedor another round of funding may be initiated. Such negotiations couldtake place using some or all of the following steps: 1. Receive anindication that a project is over budget. 2. Output a request torenegotiate the project. 3. Receive a renegotiation term sheet. 4.Determine if term sheet is acceptable. 5. If acceptable, accept termsheet and modify original term sheet. 6. If unacceptable, determinecounter offer. 7. Output counter offer terms. 8. Receive acceptance ofcounter offer terms. 9. Modify original term sheet.

At some point, the virtual VC fund will seek a return on its investment.Such a return may take the form of dividends, divestment of theinvestments, sale of assets, the sale of stock, or in an initial publicoffering.

The use of dividends may be controlled, for example, by receive dividendprogram 332. Receive dividend program 332 may also track the payment ofdividends, for example, using some or all of the following steps: 1.Determine that a dividend is due. 2. Determine a dividend amount basedon virtual project performance and investment structure conditions. 3.Output request for dividend payment. 4. Receive payment. Or 5. Ifpayment is not received, retrieve credit card(s) associated withproject. 6. Determine a real cash value of the virtual cash dividend. 7.Charge real cash value to credit card(s).

In an embodiment, virtual assets can generate benefits, such as (e.g.,dividend payments, other investment returns, salary), at regularintervals or at other times. In an embodiment, where a player is toreceive some benefit, his receipt of the benefit is contingent on theplayer performing one or more actions, such as (i) using a particularservice at least a predetermined number of times, (ii) using aparticular service at least a predetermined number of minutes, (iii)buying a real or virtual item via a particular service, (iv) spending atleast a predetermined amount of money or other value via a particularservice, (v) watching advertising, (vi) having at least a particularnumber of friends or connections (e.g., in a social network), (vii)recruit at least a particular number of new friends or connections(e.g., in a social network), (viii) maintaining a particular status witha particular service.

According to an alternate embodiment, Receive Divided program 332 may beconfigured to: 1. Receive a virtual dividend for a virtual investmentfrom the game server. 2. Deposit virtual cash into virtual account. 3.Flag investment as “dividend paid”.

In another embodiment, dividends could be managed by manage VC program310. In one embodiment, manage VC program 310 could determine when anyfund are due to the VC fund. Such funding may come from promises frominvestors, dividend payments, conversion of assets, sale of stock, orany other applicable source. In one embodiment, manage VC program 310may be configured to perform some or all of the following steps: 1.Receive an indication that a VC investment has a dividend payment due.2. Output dividend request to investment. 3. Receive dividend payment.4. Transmit payment to VC fund account. 5. Generate and charge the VCfund a dividend payment processing fee. If the payment, regardless ofsource, is not received in a timely manner, or after a specific lengthof time, whether that time is days, weeks, months, or some other timeinterval agreed upon in the documents governing the payment, manage VCinvestment program 314 could be configured to perform some or all of thefollowing steps: 1. Notify VC fund and investment that dividend was notreceived. 2. Determine a penalty. 3. Apply penalty. 4. Charge VC fundfee for applying penalty.

Such a penalty may be monetary or non-monetary and may be governed bythe term sheet or other documents dictating the terms of payment.

In another embodiment, the game environment, character(s) or player(s)seeking the venture capital funding must provide certain guarantees.Such guarantees may be used to ensure that dividends or otherobligations are paid to the venture capital company and to ensureagainst loss of the initial investment. Guarantees may take the form offinancial or non-financial collateral as defined above, for example acredit line or an escrow account containing assets which may beliquidated in the event of a default. Such guarantees may be locked asexplained above using lock credit line program 340 or pinged todetermine viability using ping credit line program 342. Accountinformation for collateral may be stored by any means applicable, forexample in account database 344.

In one embodiment, if the dividend, milestones or other obligations arenot met, the VC fund may initiate a sale of assets program, for example,sale of assets program 336. Such a program may be configured to performsome or all of the following steps: 1. Receive an indication that apayment has been missed. 2. Initiate the sale of a virtual assetprovided as a guarantee. 3. Determine virtual proceed amount based onownership percentage defined by investment agreement. 4. Transmitrequest for virtual proceed amount to player character(s) who own theasset including a virtual cash amount and a date due. 5. Receive avirtual cash payment equal to the virtual proceed amount. In the eventthat the owner is unable to provide the cash payment, some or all of thefollowing steps may be used: 1. Determine that cash payment is not madeby date specified. 2. Retrieve the credit card(s) associated with theinvestment. 3. Determine a real cash value equal to the real cash valueof the virtual proceed amount. 4. Charge the real cash value to thecredit card(s).

In another embodiment, a virtual VC fund may seek to divest itself ofsome or all of its investments or other holdings. Such sales could beperformed using Receive Proceeds from Sale of Assets program 334 usingsome or all of the following steps: 1. Receive or request the sale of avirtual asset. 2. Receive a selling price. 3. Receive a virtual cashvalue based on the ownership percentage defined by the investmentagreement. 4. Mark investment record as sold.

Another source of funding is through a public offering. Once a gameenvironment goes public, the sale of shares may be accomplished by anymeans applicable. In one embodiment, shares are sold using a system suchas the exemplary system 400 shown in FIG. 4. As shown, system 400includes a master game server 402 a game environment server 406 and anexchange server 404. Public offerings in game environments aredescribed, for example, in U.S. patent application Ser. Nos. 11/428,263,filed Jun. 30, 2006 and 11/567,122, filed Dec. 5, 2006, each of which ishereby incorporated by reference. Furthermore, inter- and intra-gameexchanges are also described in U.S. patent application Ser. No.11/428,263, as well as in U.S. patent application Ser. No. 11/560,456,filed Nov. 16, 2006, which is also hereby incorporated by reference.

Game environment server 406 may include databases such as playerdatabase 414, player character database 416, exchange open offersdatabase 428, exchange transaction database 420.

In one embodiment, Player Database 414 may include information such as,but not limited to Player ID, Player Billing Info, Player Personal Info,Player Credit Info, Player Exchange Seat ID, and Player Assets. PlayerCharacter Database 416 may include information such as, but not limitedto, Character ID, Player ID, Character Assets, Character inventory,Character Skills, Exchange Seat Owner Account Number, Exchange SeatNumber, virtual account numbers.

Exchange Server 404 may include or host various programs, routines,subroutines and/or databases including, but not limited to an exchangedatabase 408, an exchange open offers database 410, and an exchangetransaction database 412.

In one embodiment, Exchange database 408 may include information suchas, but not limited to, exchange ID, exchange type, allowable assets,and allowed traders. In another embodiment, exchange database 408 mayinclude information regarding seats on the exchange such as the exchangeseat price, maximum exchange seats allowed, exchange seats issued, andexchange seat qualifying conditions. Exchange open offers database 410could contain information such as: 1. Offer ID 2. Offer type 3. Offerposting date 4. Offer expiration date 5. Offer Item 6. Offer Quantity 7.Offer Price.

Exchange open offers may additionally be associated with the characteror player submitting the offer. Such information could be stored inExchange Open Offer Database 428 and include information such as thecharacter ID, holdings, offer ID, offer type, offer posting date, offerexpiration date, offer item, offer quantity, and offer price.

In one embodiment, each transaction could be stored in an ExchangeTransaction Database, for example in Exchange Transaction Database 412.Such a database could store information such as: 1. Order ID 2. OrderBuyer 3. Order Seller 4. Order Date 5. Order Price 6. Order Type 7.Order terms and conditions

In another embodiment, such transactions could be associated with thecharacter in Exchange Transaction Database 420. Such a database couldinclude information such as character ID, character inventory, order ID,order date, order, price, order type, and/or authentication number.

Shares on virtual exchanges may be purchased using real currency,virtual currency, virtual assets, real assets, or any combinationthereof. In one embodiment, purchases may be made in any currency orasset. In another embodiment, the value of the currency or asset must beconverted to a specified currency by an exchange rate or conversionrate.

The exchange rate for one type of virtual currency for another type ofvirtual currency, virtual currency for real currency, virtual assets forreal assets, real assets for virtual assets, real assets for virtualcurrency, virtual assets for real currency or virtual assets for virtualcurrency may be fixed in that the rate does not change for the durationof the game or segment of the game. Alternatively, the exchange orconversion rate may be variable. Such a variable rate may be pegged to afloating real world exchange relationship, for example the U.S.dollar/Japanese yen spot exchange rate, a percentage thereof, a plus orminus adjustment thereof, some other economic indicator, or acombination thereof. The exchange rate may also vary depending on thecountry of origin of the player, or may be fixed to a particular realworld currency, i.e., all exchange rates are quoted in dollars. Inanother embodiment, the exchange rate may be floating and determined bymarket forces such as the relative demand for virtual currency versusreal world currency, or the relative demand of particular types ofvirtual currency. Said exchange rates may further be established ordetermined by any suitable method including, but not limited to, by a)the game manufacturer, b) the owner(s) of the server(s) upon which thegame resides, c) one or more player characters, d) market forces, e) lawor regulation of the game or within the real world, f) negotiation amongthe affected parties, or g) any combination of the above.

In the event that the game environment becomes delinquent in payments,whether loan payments, dividend payments, bond payments, or the meetingof certain milestones, the game environment and/or the characters and/orplayers securing the loan or bonds for the game environment orguaranteeing returns for the VC fund may have one or more limitationsimposed upon his actions in the virtual world by a) the bank, b) thegame manufacturer, c) the owner(s) of the server(s) upon which the gameresides, d) one or more player characters, e) the VC fund or f) anycombination thereof. According to one embodiment, the delinquent gameenvironment may be prevented from obtaining any further funding. Inanother embodiment, the players guaranteeing the funding may be blockedfrom converting virtual currency to real currency. In a furtherembodiment, a lien may be imposed upon the assets of the gameenvironment. In yet another embodiment, the game environment or theplayers and/or characters guaranteeing the funding may be excluded fromtransacting business, owning land, or engaging in other contracts withinthe virtual world. Additionally, or alternatively, the assets of thegame environment or securing players and/or characters may be seized andsold to cover the debt, for example by using a program such as initiatesale of assets program 328. The proceeds from such a sale would then bedeposited with the account of the injured party, for example usingreceive proceeds from sale of assets program 326. The real world creditline used to secure the debt may also be charged in real world currencyto cover the amount due. In one embodiment, upon delinquency, the entireamount of the loan may become immediately due. In a further embodiment,the funds may be automatically debited from the account guaranteeing thefunding. In another embodiment the virtual representation of the gameenvironment can be altered to indicate that the game environment has adelinquent account. In a further embodiment, if a payment is missed, anypreferential terms may be subject to change. For example, the interestrate could increase, payment terms could accelerate, guaranteed exchangerates could become variable, caps on interest or exchange rates could beremoved, etc.

In an embodiment, a server running a video game is operable to provideto players (or to others) various information regarding the performanceof one or more VC funds. For example, the video game may calculate therate of return (total return, return over a particular time period) forone or more VC funds. A user interface in the video game or via a webbrowser can display a list of the measure of performance for various VCfunds. Such a user interface can be made available continually orsubstantially continually, such that a display of the then-current bestperforming VC funds may be displayed (e.g., at any time). Access to sucha user interface may be restricted to players of the game, to playersmeeting certain characteristics, to players or people paying a fee, ormay be available to anyone for free (e.g., via a web page).

In an embodiment, a VC fund may be granted a reward based on somemeasure of the VC fund's performance (e.g., rate of return, amount ofmoney collected by investors, number of successful projects funded,amount of money invested in successful projects). For example, playerswho are members in the VC fund with the highest performance (e.g.,greatest rate of return, greatest amount of money collected byinvestors, greatest number of successful projects funded) may be awardeda financial asset, a virtual object; a virtual skill or attribute;virtual property or business; a real world object or property; a promiseto perform certain services, or any combination thereof.

Types of transactions may be limited by the level of participation ofthe player or player character. Such limitations could depend upon theskill, experience, and sophistication of the authorized user and/or theplayer's real or virtual credit score and/or real or virtual current orpredicted income levels. For example, players may advance throughdifferent levels of play and after achieving certain benchmark standardsor having an account established for a particular length of time, theymay be granted wider access to financial intermediaries and the servicesprovided by such intermediaries.

In an embodiment, a module (e.g., accessible in the video game) permitsa player to specify the “completion” of a task that defines anobligation under a contract. For example, the module can provide agraphical user interface (or other interface) that lets the obligationbe defined, and thus lets a player define some or all terms of acontract. For example, the user interface can allow a player to selectthe obligation type (e.g., “deliver an in-game item”), select whatin-game item must be delivered, and select to who (e.g., to whichcharacter) it must be delivered.

Obligations can also have meta-characteristics. For example, the userinterface can permit a player to select whether there is a deadline forthe obligation (e.g., click the DEADLINE radio button in the userinterface), and select the deadline type. For example, deadline typesmay include “Specific Date” (which provides the player with a calendarfrom which the player selects the date), “Within the next X hours ofgame play” (which provides a box where the player can enter a number ofdays/hours/minutes/seconds), “Before the occurrence of another in-gameevent” (which provides a user interface allowing the player to select anin-game event type), “within the next X days of the occurrence ofanother in-game event” (which provides a user interface allowing theplayer to select an in-game event type and a number ofdays/hours/minutes/seconds).

A similar user interface can be used to permit players to modifyobligations (e.g., in a counter offer to a proposal for contract). Asimilar user interface can be used to permit players to modifyobligations (e.g., in a counter offer to a proposal for contract). Asimilar user interface can be used to permit players to enter otherobligations.

It will be appreciated that while, for the sake of discussion, variousdatabases have been described separately, the data in these and anyother suitable databases could be merged into a single large databasesand/or maintained separately in additional databases, or in otherstructures besides a database. Moreover, any such databases could beindependent or linked, and the data in these databases could be storedcentrally on a server or separately on game devices.

The present disclosure provides numerous systems and methods related tovirtual environments in online computer games. It should be appreciatedthat numerous embodiments are described in detail and that variouscombinations and subcombinations of these embodiments are contemplatedby the present disclosure.

The systems and methods described herein are provided for the purposesof example only and that none of the above systems methods should beinterpreted as necessarily requiring any of the disclosed components orsteps nor should they be interpreted as necessarily excluding anyadditional components or steps. The invention is described withreference to several embodiments. However, the invention is not limitedto the embodiments disclosed, and those of ordinary skill in the artwill recognize that the invention is readily applicable to many otherdiverse embodiments and applications as are reflected in the range ofreal world financial institutions, instruments and activities.Accordingly, the subject matter of the present disclosure includes allnovel and nonobvious combinations and subcombinations of the varioussystems, methods configurations, embodiments, features, functions,and/or properties disclosed herein.

Numerous embodiments are described in this patent application, and arepresented for illustrative purposes only. The described embodiments arenot, and are not intended to be, limiting in any sense. The presentlydisclosed invention(s) are widely applicable to numerous embodiments, asis readily apparent from the disclosure. One of ordinary skill in theart will recognize that the disclosed invention(s) may be practiced withvarious modifications and alterations, such as structural, logical,software, and electrical modifications. Although particular features ofthe disclosed invention(s) may be described with reference to one ormore particular embodiments and/or drawings, it should be understoodthat such features are not limited to usage in the one or moreparticular embodiments or drawings with reference to which they aredescribed, unless expressly specified otherwise.

1. An apparatus comprising: a processor; and a tangible computerreadable medium in communication with the processor; in which thetangible computer readable medium stores instructions which, whenexecuted by the processor, direct the processor to run a massive multiplayer online game that is operable to simultaneously support aplurality of players via a plurality of video game devices, in whicheach of the players controls at least one player character, store dataabout a virtual investor comprising one or more members; permit thevirtual investor to enter into an agreement; wherein the virtualinvestor provides virtual funds to a first player character so that thefirst player character may engage in a predetermined virtual venture;and poll at least one member of a the virtual investor as to whether ornot the first player character should receive funding from the virtualinvestor.
 2. The apparatus game of claim 1 wherein the instructions,when executed by the processor, direct the processor to receive aninvestment proposal from the first player character; and provide theinvestment proposal to the one or more virtual investor members.
 3. Theapparatus of claim 2 wherein the instructions, when executed by theprocessor, direct the processor to determine if the investment proposalmeets predetermined criteria.
 4. The apparatus of claim 3, wherein theinstructions, when executed by the processor, direct the processor toprovide a license to the first player character.
 5. The apparatus ofclaim 4 wherein the license specifies certain requirements that must bemet by the first player character in order for the entity to receivefunding from the virtual investor.
 6. The apparatus of claim 5 whereinthe predetermined criteria comprises the requirements specified by thelicense.
 7. The apparatus of claim 1 wherein the instructions, whenexecuted by the processor, direct the processor to release funds fromthe virtual investor to the first player character; requiring the firstplayer character to pay a first amount to the virtual investor;determining that the first player character has performed apredetermined activity; and reducing the first amount to a second amountin exchange for the first player character performing the predeterminedactivity, thereby requiring the first player character to pay the secondamount to the virtual investor.
 8. A method performed by a computer, themethod comprising: running, by a Video Game Central Server, a massivemulti player online game that is operable to simultaneously support aplurality of players via a plurality of video game devices, in whicheach of the players controls at least one player character; providing,by the Video Game Central Server, a virtual environment in which playercharacters can interact; receiving, by the Video Game Central Server, afunding proposal from a first player character desiring to receivevirtual funds from a virtual investor in order to enter into a venture;and polling, by the Video Game Central Server, members of the virtualinvestor as to whether or not to provide funds to the first playercharacter.
 9. The method of claim 8 wherein polling members of thevirtual investor comprises receiving a single vote from one or moremembers of the virtual investor.
 10. The method of claim 9 furthercomprising weighing each vote equally.
 11. The method of claim 9 furthercomprising weighting the votes of some members more heavily than others.12. The method of claim 8 further comprising determining criteria thatmust be met by a proposal in order for the proposal to be sent to themembers for polling.
 13. The method of claim 12 further comprisingdetermining if the funding proposal meets the criteria.
 14. The methodof claim 12 wherein determining criteria that must be met comprisesdetermining the field of the venture.
 15. The method of claim 12 whereindetermining criteria that must be met comprises determining resourcesavailable to the first player character.
 16. The method of claim 15further comprising providing information related to the resourcesavailable to the first player character to the members.
 17. The methodof claim 12 wherein determining criteria that must be met comprisesdetermining skills available to the first player character.
 18. Themethod of claim 17 further comprising providing, by the Video GameCentral Server, information related to the skills available to the firstplayer character to the members.
 19. The method of claim 8 furthercomprising determining, by the Video Game Central Server, whether or notto release funds to the first player character based on the results ofthe poll.
 20. The method of claim 1 further comprising releasing fundsfrom the virtual investor to the first player character; and requiringthe first player character to pay a first amount to the virtualinvestor; determining that the first player character has performed apredetermined activity; and reducing the first amount to a second amountin exchange for the first player character performing the predeterminedactivity, thereby requiring the first player character to pay the secondamount to the virtual investor.